This paper presents an integrated supplier selection and inventory management using grey relationship model (GRM) as well as multi-objective decision making process. The proposed model of this paper first ranks different suppliers based on GRM technique and then determines the optimum level of inventory by considering different objectives. To show the implementation of the proposed model, we use some benchmark data presented by Talluri and Baker [Talluri, S., & Baker, R. C. (2002). A multi-phase mathematical programming approach for effective supply chain design. European Journal of Operational Research, 141(3), 544-558.]. The preliminary results indicate that the proposed model of this paper is capable of handling different criteria for supplier selection.

This paper presents a hybrid method for detecting the most important failure items as well as the most effective alternative strategy to cope with possible events. The proposed model of this paper uses grey technique to rank various alternatives and FMEA technique to find important faults. The implementation of the proposed method has been illustrated for an existing example on the literature. The results of this method show that the proposed model has been capable of detecting the most trouble making problems with fuzzy logic and finds the most important solution strategy using FMEA technique.