Asked by Casey Hamilton on Jun 04, 2024
Verified
A company is about to select a vendor for the outsourcing of all of its waste management needs. It has identified four criteria critical to the selection. These criteria, and their importance weights, appear below. Three vendors and their scores are listed below. Which vendor has the highest composite score?
Weight Vendor 1 Vendor 2 Vendor 3 Criteria 1 0.37898 Criteria 2 0.23597 Criteria 3 0.24716 Criteria 4 0.16443\begin{array} { | l | r | r | r | r | } \hline & \text { Weight } & \text { Vendor 1 } & \text { Vendor 2 } & \text { Vendor 3 } \\\hline \text { Criteria 1 } & 0.37 & 8 & 9 & 8 \\\hline \text { Criteria 2 } & 0.23 & 5 & 9 & 7 \\\hline \text { Criteria 3 } & 0.24 & 7 & 1 & 6 \\\hline \text { Criteria 4 } & 0.16 & 4 & 4 & 3 \\\hline\end{array} Criteria 1 Criteria 2 Criteria 3 Criteria 4 Weight 0.370.230.240.16 Vendor 1 8574 Vendor 2 9914 Vendor 3 8763
Composite Score
An overall score that combines multiple individual metrics or scores to provide a summary measure.
Waste Management
The collection, transport, processing, recycling or disposal, and monitoring of waste materials to reduce their effect on health, the environment or aesthetics.
- Acquire an understanding of the process of allocating weights to different factors during the selection of suppliers, including how criteria and weights are applied in decisions.
- Adopt the factor weighting mechanism to pick a supplier in light of multiple criteria.
Verified Answer
LN
Lexie NicolaJun 09, 2024
Final Answer :
Total 1 Vendor 1 Vendor 2 Vendor 3 Weighted sum 6.436.286.49 Weighted average 6.436.286.49\begin{array} { | r | r | r | r | r | } \hline \text { Total } & 1 & \text { Vendor 1 } & \text { Vendor 2 } & \text { Vendor 3 } \\\hline \text { Weighted sum } & & 6.43 & 6.28 & 6.49 \\\hline \text { Weighted average } & 6.43 & 6.28 & 6.49 \\\hline\end{array} Total Weighted sum Weighted average 16.43 Vendor 1 6.436.28 Vendor 2 6.286.49 Vendor 3 6.49 Vendor 3 has the highest composite score of 6.49
Learning Objectives
- Acquire an understanding of the process of allocating weights to different factors during the selection of suppliers, including how criteria and weights are applied in decisions.
- Adopt the factor weighting mechanism to pick a supplier in light of multiple criteria.
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