SUPPLIER SELECTION IN AN INDUSTRY OF SHORT LIFECYCLE PRODUCTS USING BAYESIAN NETWORK ANALYSIS

Abstract

This study presented an innovative Bayesian Network (BN) modelling and simulation for supplier selection problem of an actual electronic parts manufacturing firm of Pakistan. The list of qualitative and quantitative factors which affect this supplier selection decision was extracted from a variety of studies in literature. The problem was modelled and solved in respective BN software platform using the standard recommended procedure. Results showed that ―Quality‖ and ―Costs‖ were the most crucial factors for the Short Life Cycle(SLP) products industry underinvestigation. The supplier alternative which was strong in these factors, had emerged as the most suitable option. The results were found to be beneficial for other SLP industries of Pakistan too.