ProcurementSupport tools beyond the formal requirements
Purchase managers need decision support tools beyond those that only ascertain that the formal requirements are met. There are some fundamental flaws with common models used in procurement situations, flaws that are so serious that the evaluations of tenders often become meaningless and may lead to large and costly miscalculations. Thus, purchasers clearly need support tools beyond those that only ascertain that the formal requirements are met, i.e. there is a need for tools that are using appropriate calculation functions that support scalable management and allow imprecision in value and weight statements.
We significantly improve the equitability of the tender evaluations through the use of multi-criteria decision analysis with numerically imprecise input information with algorithms targeted for decision evaluation with imprecise data. Of high importance is that we can allow for a more realistic degree of precision in the valuation and ranking of tenders under each evaluation criterion, as well as the associated weighting of the criteria, since the criteria are often of a more qualitative nature. Through this, both quantitative and qualitative statements could be easily managed within the same framework.
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