TY - JOUR A1 - Kellner, Florian A1 - Lienland, Bernhard A1 - Utz, Sebastian T1 - An a posteriori decision support methodology for solving the multi-criteria supplier selection problem T2 - European Journal of Operational Research N2 - This research presents a novel, state-of-the-art methodology for solving a multi-criteria supplier selection problem considering risk and sustainability. It combines multi-objective optimization with the analytic network process to take into account sustainability requirements of a supplier portfolio configuration. To integrate ‘risk’ into the supplier selection problem, we develop a multi-objective optimization model based on the investment portfolio theory introduced by Markowitz. The proposed model is a non-standard portfolio selection problem with four objectives: (1) minimizing the purchasing costs, (2) selecting the supplier portfolio with the highest logistics service, (3) minimizing the supply risk, and (4) ordering as much as possible from those suppliers with outstanding sustainability performance. The optimization model, which has three linear and one quadratic objective function, is solved by an algorithm that analytically computes a set of efficient solutions and provides graphical decision support through a visualization of the complete and exactly-computed Pareto front (a posteriori approach). The possibility of computing all Pareto-optimal supplier portfolios is beneficial for decision makers as they can compare all optimal solutions at once, identify the trade-offs between the criteria, and study how the different objectives of supplier portfolio configuration may be balanced to finally choose the composition that satisfies the purchasing company's strategy best. The approach has been applied to a real-world supplier portfolio configuration case to demonstrate its applicability and to analyze how the consideration of sustainability requirements may affect the traditional supplier selection and purchasing goals in a real-life setting. KW - Supply chain management; Supplier selection; Sustainability; Logistics; Decision support systems Y1 - 2019 UR - https://opus4.kobv.de/opus4-rosenheim/frontdoor/index/index/docId/2082 VL - 272 IS - 2 SP - 505 EP - 522 ER -