Making the most of game theory in the supplier selection process for complex items
Mediavilla, Miguel and Mendibil, Kepa and Bernardos, Carolina (2020) Making the most of game theory in the supplier selection process for complex items. Production Planning and Control. ISSN 0953-7287
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Abstract
There has been a growing interest in the application of game-theory to enhance the impact of supplier selection processes, but existing applications have been focused on commodity products. Therefore, scholars have recently called for further research into the use of game-theory to develop supplier selection processes for more complex products. The aim of this paper is to contribute by discussing the design and implementation of a novel supplier selection process based on game-theory through an empirical study of a construction project for an automotive company. The novelty of this research stems from the application of game-theory to design and implement a two-phase supplier selection process, combining a modified Japanese-auction with a structured bargaining process, and evaluating its impact in the context of complex items. Findings suggest that two-phase processes can enhance the effectiveness of the supplier selection by increasing competition and generating better predictions of the outcomes from the negotiation.
Creators(s): | Mediavilla, Miguel, Mendibil, Kepa and Bernardos, Carolina; | Item type: | Article |
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ID code: | 72595 |
Keywords: | supplier selection, complex items, bargaining, reverse auction, game theory, Engineering design, Decision Sciences(all) |
Subjects: | Technology > Engineering (General). Civil engineering (General) > Engineering design |
Department: | Faculty of Engineering > Design, Manufacture and Engineering Management |
Depositing user: | Pure Administrator |
Date deposited: | 08 Jun 2020 08:50 |
Last modified: | 21 Jan 2021 11:59 |
Related URLs: | |
URI: | https://strathprints.strath.ac.uk/id/eprint/72595 |
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