Evaluation and Selection of Strategic Suppliers using MBSC/GRA Combinational Model

Strategic planning in selection of suppliers has attracted growing interests in the recent years.The existing evaluation methods are based on performance records and most of them may not beobjective. Therefore their analysis can not result in a precise, reliable outcome. In our study, weuse two distinct approaches: Balanced Scorecard and Grey Relational Analysis which are used to create a precise, comprehensive model needed for selection of strategic suppliers. The former one which has been dealt with in many studies focus on an individual organization. Here in thisstudy, taking the inter-organizational relations are into account, enhanced and performance evaluation criteria are identified and they are priorized using grey relation analysis and Shannon Entropy weighting method. For this purpose, a case study is provided which has been carried out on an active company in auto-making industry.

Keywords:

Grey relational analysis , balanced scorecard , evaluation of strategic suppliers