Assessment and Selection of Suppliers in Uncertain Conditions: Hybrid Multi-Criteria Decision-Making Approach

This study proposes a hybrid model for optimizing supplier selection by addressing both quantitative and qualitative evaluation criteria. The framework integrates the factor relationship (FARE) method and grey relational analysis (GRA) to provide a robust and systematic approach to supplier assessment. The methodology is implemented in two key stages: first, the FARE method is employed to determine the relative importance of evaluation criteria, ensuring an accurate representation of decision-making priorities. In the second stage, GRA is applied to evaluate and rank suppliers based on these weighted criteria, enabling a comprehensive comparison. To demonstrate its practicality, the proposed model is validated through a case study in the chemical industry, showcasing its real-world applicability and effectiveness. Furthermore, the model’s performance is compared with findings from previous studies, highlighting its superior capability in addressing complex supplier selection scenarios. This work offers valuable insights for decision-makers seeking reliable and efficient methods for supplier evaluation and selection.