Decreasing Financial Negative Influence in the Supply Chain Management through Integrated Comparison the ANP and GRA-ANP Models

Abstract

In the modern economic era of lower profits, financial negative influence has been in the supply chain management for quite some time however, only a few assessable measurements of financial negative influence are considered. The integrated methodology of the Analytical Network Process (ANP) and the Grey Relation Analysis (GRA) is selected to evaluate key financial assessment criteria through brainstorming, focus group, the Delphi method and nominal group technique to improve the selection of suppliers in supply chain management (SCM). The specific feature of the ANP and GRA- ANP models are both to establish pairwise compared matrix and furthermore, to calculate the priority vector weights (eigenvector) of each assessable characteristic, criteria and attribute. Additionally, in the content, the analytical hierarchical relations are definitely expressed in four levels including between each characteristic of supply chain, criterion and attribute. Moreover, based on the empirical analysis, the enterprises are able to choose the best potential suppliers through this research in order to minimize financial negative influence from a financial perspective through the comparison between the ANP and GRA-ANP approaches. Finally, some suggestions for managers and researchers are inductively formed to further the best development of operation strategy of supply chain management in order to diminish financial negative influence.