Supplier Selection Based on Supplier Portrait and Markov Monte Carlo Method

The supplier selection problem is a complex multi-objective decision-making problem and the key is how to establish the supplier's portrait. For the supplier selection of aerospace equipment, enterprise qualification management, business risks, and product quality are comprehensively considered. Based on Bayesian theory, the multi-parameter joint distribution derivation of portrait sample data is realized. Combined with the mathematical model derived, a Markov Monte Carlo simulation method is proposed. And combined with Gibbs sampler, the supplier ranking and selection are achieved when data is difficult to obtain or missing, which provides a new idea for supplier selection in the aerospace field.