Author Affiliation

Department of Engineering Management and Systems Engineering, Old Dominion University

Publication Date

2022

Conference Title

Modeling, Simulation and Visualization Student Capstone Conference 2022

Conference Track

Transportation, Business & Industry

Document Type

Paper

Abstract

Supplier selection is a subfield of supply chain management that involves multiple steps in order for decision-makers to find suitable suppliers. Supplier selection is important as it could influence the whole company positively or negatively. It has, recently, become a topic of interest because of the recent pandemic and its effect on the global supply chain, which causes supply shortages. As such, the focus of this paper is on characteristics of decision-making modeling approaches, specifically agent-based modeling and multi-agent systems, in supplier selection, as its modeling has always been a challenge for companies due to its complex nature.

Keywords:

Supplier selection, Strategic decision-making, Agent-based modeling, Multi-agent systems

Start Date

4-14-2022

End Date

4-14-2022

DOI

10.25776/qd5q-kx67

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A Discussion on Supplier Selection Modeling Approaches

Supplier selection is a subfield of supply chain management that involves multiple steps in order for decision-makers to find suitable suppliers. Supplier selection is important as it could influence the whole company positively or negatively. It has, recently, become a topic of interest because of the recent pandemic and its effect on the global supply chain, which causes supply shortages. As such, the focus of this paper is on characteristics of decision-making modeling approaches, specifically agent-based modeling and multi-agent systems, in supplier selection, as its modeling has always been a challenge for companies due to its complex nature.