QUANTITY DISCOUNTS IN SUPPLIER SELECTION PROBLEM BY USE OF FUZZY MULTI-CRITERIA PROGRAMMING

Supplier selection in supply chain is a multi-criteria problem that involves a number of quantitative and qualitative factors. This paper deals with a concrete problem of flour purchase by a company that manufactures bakery products and the purchasing price of flour depends on the quantity ordered. The criteria for supplier selection and quantities supplied by individual suppliers are: purchase costs, product quality and reliability of suppliers. The problem is solved using a model that combines revised weighting method and fuzzy multi-criteria linear programming (FMCLP). The paper highlights the efficiency of the proposed methodology in conditions when purchasing prices depend on order quantities

QUANTITY DISCOUNTS IN SUPPLIER SELECTION PROBLEM BY USE OF FUZZY MULTI-CRITERIA PROGRAMMING

Supplier selection in supply chain is a multi-criteria problem that involves a number of quantitative and qualitative factors. This paper deals with a concrete problem of flour purchase by a company that manufactures bakery products and the purchasing price of flour depends on the quantity ordered. The criteria for supplier selection and quantities supplied by individual suppliers are: purchase costs, product quality and reliability of suppliers. The problem is solved using a model that combines revised weighting method and fuzzy multi-criteria linear programming (FMCLP). The paper highlights the efficiency of the proposed methodology in conditions when purchasing prices depend on order quantities

An Application of the MP Method for Solving the Problem of Distribution

In this paper, we present an application of a method for solving the multi-objective programming problem (the MP method), which was introduced in [1]. This method is used to solve the problem of distribution (the problem of cost/ profit allocation). The method is based on the principles of cooperative games and linear programming. In the paper, we consider the standard case (proportional distribution) and the generalized case in which the basic ideas of coalitions have been incorporated. The presented theory is applied and explained on an investment model for economic recovery

Multi-objective programming methodology for solving economic diplomacy resource allocation problem

Economic diplomacy is an important prerequisite for achieving the economic goals of any country. The issue is worth analysing from several aspects. Since there is a lack of literature in the field, this paper may be one of the first steps in this direction. It focuses on a clear exposition and explanation of multi-objective programming methodology and its connection with economic diplomacy at the micro-level. This connection is achieved by constructing a model that optimises funds allocation for economic diplomacy costs. The model uses multi-objective programming methodology and takes into account the relevant economic diplomacy funding determinants. It defines measurements of criteria, budget limitation, efficiency maximization, and location. The application of the model is illustrated by a numerical example

Analysis of the efficiency of the linearization techniques for solving multi-objective linear fractional programming problems by goal programming

This paper presents and analyzes the applicability of three linearization techniques used for solving multi-objective linear fractional programming problems using the goal programming method. The three linearization techniques are: (1) Taylor’s polynomial linearization approximation, (2) the method of variable change, and (3) a modification of the method of variable change proposed in [20]. All three linearization techniques are presented and analyzed in two variants: (a) using the optimal value of the objective functions as the decision makers’ aspirations, and (b) the decision makers’ aspirations are given by the decision makers. As the criteria for the analysis we use the efficiency of the obtained solutions and the difficulties the analyst comes upon in preparing the linearization models. To analyze the applicability of the linearization techniques incorporated in the linear goal programming method we use an example of a financial structure optimization problem

Vendor Selection and Supply Quotas Determination by Using the Analytic Hierarchy Process and a New Multi-objective Programming Method

In this article, we propose a new methodology for solving the vendor selection and the supply quotas determination problem. The proposed methodology combines the Analytic Hierarchy Process (AHP) for determining the coefficients of the objective functions and a new multiple objective programming method based on the cooperative game theory for vendor selection and supply quotas determination. The proposed methodology is tested on the problem of flour purchase by a company that manufactures bakery products. For vendor selection and supply quotas determination we use three complex criteria: (1) purchasing costs, (2) product quality, and (3) vendor reliability

The Relationship between Capital Structure Choice and Firm\u27s Profitability: Evidence from Bosnia and Herzegovina

This research is designed to examine the relationship between the capital structure and profitability of non-financial firms in Bosnia and Herzegovina during the period of ten years, from 2003-2012. The goal is to prove the existence of the relationship between the firm\u27s capital structure choice and its profitability. The analysis is extended by including the debt structure and differentiating between the types of debt such as the long-term and the short-term ones. The results of the multivariate canonical correlation analysis provide support to a hypothesis that the capital structure and profitability have statistically significant relationships. Furthermore, the findings provide support that firms develop different patterns of profitability depending on the capital structure choice. We found that an increasing proportion of short-term debt and long-term debt in the overall liability of the firm reduces its profitability. This work is licensed under a&nbsp;Creative Commons Attribution-NonCommercial 4.0 International License.</p

Statistical analysis of causality between capital structure and firm profitability: Evidence from Bosnia and Herzegovina

This research is designed to examine the relationship between the capital structure and profitability of non-financial firms in Bosnia and Herzegovina during the ten years period, from 2003-2012. The goal is to prove the existence of the relationship between the firm\u27s capital structure choice and its profitability. The analysis is extended by including the debt structure and differentiating between the types of debt such as the long-term and the short-term ones. Canonical correlation and multiple regression analysis are used. The results of the multivariate canonical correlation analysis provide support to a hypothesis that the capital structure and profitability have statistically significant relationships. Furthermore, the findings provide support that firms develop different patterns of profitability depending on the capital structure choice. We found that an increasing proportion of short-term debt and long-term debt in the overall liability of the firm reduces its profitability

A fuzzy goal programming approach to solving decentralized bi-level multi-objective linear fractional programming problems

This paper presents a new approach for solving decentralized bi-level multi-objective linear fractional programming problems. The main goal was to find a simple algorithm with high confidence of decision-makers in the results. First, all the linear fractional programming models on the given set of constraints were solved separately. Next, all the linear fractional objective functions were linearized, membership functions of objective functions and decision variables controlled by decision-makers at the highest level calculated, and a fuzzy multi-objective linear programming model formed and solved as linear goal programming problem by using simplex algorithm. The efficiency of the proposed algorithm was investigated using an economic example, and the obtained results compared with those obtained using an existing method