Briefly Describe How to Conduct the Factor Weighting Approach to Supplier

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The Answer is The factor weighting technique simultaneously considers multiple supplier criteria. First a set of important selection criteria must be chosen. Then an importance weight must be assigned to each factor. These weights often sum to 100%. Then each potential supplier is scored on each selection criterion according to the same numerical scale . Finally, each supplier's weighted total score equals the sum over all selection criteria of the product of that supplier's score multiplied by the importance weight for that criterion. The supplier with the highest total scored is deemed most attractive.

Briefly Describe How to Conduct the Factor Weighting Approach to Supplier

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