Asked by Jaren Harth on May 03, 2024
Verified
When using the factor weighting approach, most companies will use the same list of criteria and the same criteria weights.
Factor Weighting Approach
A method used in decision-making that assigns weights to different criteria based on their importance.
Criteria Weights
Factors used in decision making that assign different levels of importance to the various criteria considered in the evaluation process.
- Understand the factor weighting approach in supplier selection, including the application of criteria and weighting for decision making.
Verified Answer
SK
Sandeep KaredlaMay 03, 2024
Final Answer :
False
Explanation :
The criteria and weights used in the factor weighting approach vary from company to company based on their specific goals and objectives.
Learning Objectives
- Understand the factor weighting approach in supplier selection, including the application of criteria and weighting for decision making.