Optimizing Supplier Selection Process in a Manufacturing Company

Thesis Abstract

Abstract
In the competitive landscape of the manufacturing industry, the efficiency and effectiveness of the supplier selection process play a crucial role in determining the overall success of a company. This thesis focuses on the optimization of the supplier selection process in a manufacturing company, aiming to enhance operational performance, reduce costs, and improve supply chain management. The research is motivated by the recognition of the strategic importance of suppliers in achieving competitive advantage and the need to streamline the process of identifying and engaging with the most suitable suppliers. The study begins with an exploration of the current state of supplier selection practices in the manufacturing industry, highlighting the challenges and shortcomings that companies commonly face. By examining the existing literature on supplier selection criteria, methods, and tools, the research aims to identify best practices and key success factors that can inform the development of an optimized supplier selection process. The methodology chapter outlines the research approach, data collection methods, and analysis techniques employed in the study. Through a combination of qualitative and quantitative research methods, including surveys, interviews, and case studies, the research seeks to gather insights from industry experts, procurement professionals, and supply chain managers to develop a comprehensive understanding of the supplier selection process. The findings chapter presents the results of the research, including the identification of critical success factors for supplier selection, the evaluation of different supplier evaluation methods, and the development of a framework for optimizing the supplier selection process. The discussion delves into the implications of the findings for manufacturing companies, offering practical recommendations and strategies for improving supplier selection practices and enhancing supply chain performance. In conclusion, this thesis contributes to the body of knowledge on supplier selection in the manufacturing industry by proposing a systematic approach to optimizing the supplier selection process. By addressing the limitations of existing practices and offering practical guidance for implementing a more efficient and effective supplier selection process, this research aims to support manufacturing companies in achieving their strategic goals and gaining a competitive edge in the market.