Critical path-analysis-based dynamic component supplier optimization

The global market today demands rapid introduction of products while maintaining high quality and minimal costs. To accomplish the goals in a timely and efficient manner, companies are considering the power of collaboration across the product life cycle. The paper proposes a critical-path-analysis (CPA)-based method to optimize the component supplier selection in a dynamic collaborative environment. An objective function is advanced to formalize the component supplier optimization problem. Fuzzy factors, fuzzy decision of the optimization and their relations are analysed. A CPA-based optimization algorithm is developed to select a set of suppliers that could provide the components at low prices and in time.