Faculty Publications
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Item Evaluation of Vendor Analysis Using AHP at TUV Manufacturing Company(Springer Science and Business Media Deutschland GmbH, 2024) Vadivel, S.M.; Asuvaitha, A.; Rea, R.S.C.; Veeraraghavan, R.; Sequeira, A.H.For an organization in a manufacturing industry to be able to sustain itself in a competitive environment, the purchasing process plays an important role. It is the procurement department’s responsibility to select the most desirable vendors and periodically evaluate their vendor performance in order to retain them. This study, Development and Evaluation of Vendor Analysis in TUV, deals with the process of assessing a company’s relationships with its suppliers and vendors, analyzing their effectiveness, and making changes if necessary. Vendor analysis is a critical and complex component of any business that relies on third-party providers to obtain materials or services based on several agreed-upon and contractual Key Performance Indicators (KPIs), such as the vendor’s infrastructure, product quality, delivery, cost, housekeeping, availability of qualified personnel, record of standard availability, and financial capability. Multi-criterion decision-making (MCDM) techniques are used to handle these complexities, allowing consistent and effective decision-making and the selection of the best suitable supplier. This study utilizes the Analytic Hierarchy Process (AHP) to evaluate suppliers and select the most suitable vendors. By understanding vendor analysis and its importance, businesses can create strong partnerships that benefit both parties. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.Item Effects of energy price rise on investment: Firm level evidence from Indian manufacturing sector(Elsevier, 2015) Sadath, A.C.; Rajesh Acharya, H.R.This paper analyses the effects of the rising prices of energy products on the investment of a large panel of manufacturing firms in India during 1993-2013. The prime motivation behind this study is the absence of an empirical study into this research issue exclusively on Indian economy. The empirical results obtained by estimating an Error Correction Model (ECM) using Generalized Method of Moments (GMM) show that energy price rise has negative effect on the investment of firms in the manufacturing sector. The negative effect is transmitted to the firm's investment through both demand-side and supply-side factors. The transmission also depends upon factors such as the energy intensity of production. The results also show that the sales-growth-investment relationship becomes weak in the face of the rising prices of the energy which could be due to the cautious approach to investment adopted by the firms. Therefore, it calls for the attention of the policy makers to evolve a comprehensive energy-policy to ensure continuous supply of energy at affordable prices to the manufacturers. © 2015 Elsevier B.V.Item Identification of challenges to Industry 5.0 adoption in Indian manufacturing firms: an emerging economy perspective(Taylor and Francis Ltd., 2025) Sahoo, P.; Saraf, P.K.; Uchil, R.This study aims to identify a comprehensive list of challenges and empirically evaluate their impact on Industry 5.0 adoption, particularly in developing countries in Indian manufacturing firms. Challenges were classified into four significant categories: human, environmental, legal and ethical, and financial through an extensive literature review conducted and experts’ inputs. Multi-criteria decision-making (MCDM) is a method for analyzing complex issues by assessing multiple alternatives based on specific criteria. The analytic hierarchy Process (AHP) aids in selecting suitable options, while the analytical network processes (ANP) technique determines relevant criteria. A sensitivity analysis was carried out to validate the research findings. The most preeminent challenges were identified as human critical thinking, human-machine teams, incorporation of ethics, investment in Industry 5.0 technologies, human well-being perspective, over-dependency on technology, and personalization and hyper-customization 5.0, respectively, in the adoption of Industry 5.0. The comprehensive challenges proposed in the study will assist decision-makers, practitioners, and managers in determining fair benchmarking strategies to precipitate Industry 5.0. This research helps to gauge manufacturing firms’ readiness index to adopt Industry 5.0, provides a distinct perspective, and foregrounds the significance of research to assist the industry in its long-term to anticipate Production 6.0. © 2024 Informa UK Limited, trading as Taylor & Francis Group.