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Showing 2 results for Utility Function

Mehran Dodkanloo Milan, Saeid Jafarzadeh-Ghoushchi,
Volume 14, Issue 4 (12-2017)
Abstract

Selecting the right suppliers is one of the most important decision-making problems to achieve competitive advantage in the supply chain of every company and organization. In order to achieve these goals, the decision-makers (DMs) should apply the best method and accurate criteria for analyzing and solving supplier selection problems. Meanwhile, due to their flexibility, the use of hybrid models has always been welcomed. The present paper employs the integrated analytical hierarchy process (AHP) technique, Taguchi loss function, and multi-choice goal programming (MCGP) with utility functions to evaluate and select the best supplier. The proposed model will enable the decision-maker to choose the appropriate supplier(s) based on the lowest loss and the highest level of utility to achieve the most suitable policy for his goals. 
 


S. H. Nasseri, P. Niksefat, Miss F. Rangriz, Z. Akbari,
Volume 20, Issue 4 (10-2023)
Abstract

In supply chain management, choosing the right supplier is one of the most important decision-making processes to improve the company's competitiveness. In particular, when a buyer thinks about selecting multiple suppliers, he/she should consider order allocation by selecting a supplier. In this study, an interactive multi-objective optimization approach is proposed for the problem of supplier selection and order allocation. Also, the concept of utility is included in the optimization model to consider the principles of ultimate descending utility. The results are presented along with their comparison with the answers of the weighting methods. This study demonstrates the advantage of the proposed method in that the decision maker directly examines the degree of desirability and understands their preferred structure through improved solutions.

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