Efficient selection of bids and product offerings is a key requirement in today’s procurement processes. Purchasing managers have to make comprehensible selections among hundreds of alternatives considering several dozens of criteria. Selection problems like this are challenging, because they require the balancing of multiple, often conflicting objectives. Traditional approaches to multiattribute decision making (MALM) ore often insufficient in situations with a large number of attributes and alternatives. ABSolute is an application framework for electronic sourcing. The core component of ABSolute is an intelligent decision analysis engine for electronic procurement, which is designedfor large amounts of alternatives and attributes. ABSolute enhances traditional approaches to decision making with advanced visualization capabiliries and WOM, a new technique for weight assessment based on ordinal rankings of alternatives.
By: Martin Bichler, Juhnyoung Lee, Ho Soo Lee, Jen-Yao Chung
Published in: RC22049 in 2001
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