Application of Fuzzy Multi-Criteria Decision Making in Entrepreneurial Venture Evaluation

This study investigates vendor selection criteria within the framework of supply chain management using the Fuzzy Analytic Hierarchy Process (FAHP). To ensure reliability, expert insights were obtained from two industry professionals, each with over 30 years of experience. Six key criteria were evaluated: Quality (C1), Cost and Value (C2), Delivery and Logistics (C3), Customer Service and Support (C4), Security and Risk Management (C5), and Technical Expertise and Capabilities (C6). The FAHP approach was applied to determine the relative importance of these factors. The analysis showed that Cost and Value (C2) emerged as the most critical consideration, while Quality (C1) ranked lowest in priority. These results offer valuable guidance for organizations, highlighting the need to prioritize cost efficiency and value creation when formulating vendor selection strategies