A survey on existing vendor selection techniques

The vendor selection is an important issue owing to increasing competitiveness of business organisations. The researchers have already come up with some techniques to help business organisations in that regard. This paper accumulates existing vendor selection techniques and searches for the comparative strengths and weaknesses of them. It is observed that some methods require more user time and effort than others producing results with varied types of accuracy. The target of this paper is to analyse the benefits and shortcomings of the existing methods and draw conclusion on their relative performance and efficiency level.