Utilising RFQ Analysis and the k-means Algorithm to Develop a Decision Support Model for Supply Chain Management in Retail

Key Points

• The research aims to create a decision support model for enhancing supply chain management in retail using RFQ analysis and k-means algorithm.
• Utilized RFQ analysis to evaluate supplier responses.
• Applied the k-means algorithm to segment data for effective decision-making.
• Developed a decision support model based on identified patterns in supply chain operations.
• Improved decision-making efficiency in supply chain processes was observed.
• Retailers reported enhanced supplier selection accuracy.
• Time reductions in order processing were documented.