Developing Combined Supplier Selection Model Based on non-Supply Risk and Effect of Brand on Demand

Supplier selection is one of the most important problems in management and optimization area which aims at optimizing cost of supply, quality of products and services, risk of non-supply etc. In the literature, risk of non-supply and brand effect on demand is not considered in the models. Inspiring of this fact, the current research develops supplier selection integer model to take lead time and risk of non-supply into account. To solve the model, LOKAD benchmark database are employed and a new adaptive variable neighborhood search will be introduced according to a scoring strategy to deal with complexity of the model and achieve optimal or appropriate near optimal solutions. According to Wilcoxon test, the obtained pareto solutions outperforms Luan et al. (2019) results. Sensitivity analysis of the solutions on budget reveals that the final profit is more sensitive comparing to lead time. In addition, distance from ideal and diversity measures used as quantitative measures to compare the results.