Covering Optimization Through Mathematical Model for Decision Making Support in Material Procurement

Supply Chain Management customers usually require complex customization in their day to day operations as far as material procurement is concerned from various suppliers and its aptness of real-time reporting of the data across different operations. There are many techniques coming up with optimization model for the efficient procurement of materials from various competing suppliers. The complex rules govern the way, the optimization can be done by providing constraints which will be used by the model. This paper proposes a model, utilizing linear programming to come up with the best-optimized way for material procurement all the way from suppliers to different Original Equipment Manufacturers. The model helps the customers to leverage their decision making based on the optimized scenario to make them profitable and efficient.