Development of Comprehensive Vendor Performance Evaluation Frameworks Using Data-Driven Methodologies
Author(s): Oluwafunmilayo Kehinde Akinleye, David Adedayo Akokodaripon, Precious Osobhalenewie Okoruwa, Odunayo Mercy Babatope
DOI: 10.54660/STMJRD.2018.1.3.01-15
Abstract:
Vendor performance evaluation is a central dimension of supply chain management, directly shaping organizational efficiency, competitiveness, and resilience. As global supply chains expand in scope and complexity, organizations increasingly require systematic and reliable mechanisms for assessing vendors across multiple criteria, including cost, quality, delivery, risk exposure, sustainability, and innovation. Traditional approaches, dominated by subjective judgment and limited metrics, have been challenged by the rise of data-driven methodologies that leverage multi-criteria decision-making (MCDM), predictive analytics, big data, and artificial intelligence to enhance objectivity and transparency. This paper develops a comprehensive understanding of vendor performance evaluation frameworks using a literature-based approach, with a focus on methodological developments up to 2018. Drawing upon a wide range of theoretical, empirical, and applied studies, the review synthesizes historical progress from early qualitative models to contemporary analytics-driven frameworks. The discussion highlights the role of data integration, hybrid evaluation systems, and sustainability considerations as pivotal trends. Furthermore, the study emphasizes the challenges of balancing objectivity and subjectivity, the practical constraints of implementing advanced models, and the increasing expectation for socially and environmentally responsible vendor assessments. By consolidating existing contributions, this research offers an integrative perspective on vendor evaluation frameworks, identifying methodological strengths, gaps, and opportunities for future development. The findings are relevant to both academia and practice, providing a structured foundation for organizations seeking to implement rigorous, data-driven vendor performance evaluation systems.
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How to cite this article:
Akinleye, O. K., Akokodaripon, D. A., Okoruwa, P. O., & Babatope, O. M. (2018). Development of Comprehensive Vendor Performance Evaluation Frameworks Using Data-Driven Methodologies. The Scholars Time: A Multidisciplinary Journal of Research and Development. 01(03). 01-15