Supplier selection based on supplier risk: An ANP and fuzzy TOPSIS approach

Typically, supplier selection constitutes one of the most important stages of supply chain management and a variety of basic and hybrid MCDM approaches have been deployed to provide this problem with well-suited solutions. This paper investigates a new novel approach for this problem based on ANP and fuzzy TOPSIS methods while it takes into account the risk factor solely regarding the decision maker’s venture strategy. In addition to an ANP model that determines the effects of decision criteria, in the proposed approach, a set of 5 risk categories has been deployed to affect the decision maker’s choice by normalizing the weights of risk criteria.