Using improved CRITIC method to evaluate thermal coal suppliers.

Area of Science:

• Supply Chain Management
• Operations Research
• Energy Economics

Background:

• The complex international political situation has led to coal supply shortages in Europe.
• Existing supplier evaluation methods fail to account for indicator variability, such as war-related disruptions.
• Coal-electricity-integrated companies require stable thermal coal supplies, necessitating effective short-term supplier evaluations.

Purpose of the Study:

• To improve the CRITIC method for evaluating coal suppliers in dynamic market conditions.
• To develop a robust supplier evaluation framework for coal-electricity firms facing supply chain volatility.
• To enhance the accuracy and stability of supplier assessments using short-term transaction data.

Main Methods:

• Modification of the CRITIC (Criteria Importance Through Intercriteria Correlation) method.
• Application of the improved CRITIC method to short-term transaction data from a coal-electricity firm.
• Comparative analysis of evaluation results against traditional methods to assess stability and accuracy.

Main Results:

• The improved CRITIC method effectively mitigates weight fluctuations caused by conflicting indicator value ranges.
• Evaluation outcomes demonstrate enhanced consistency with the actual supply situation.
• The method proves suitable for the rigorous supplier evaluation demands of large coal enterprises.

Conclusions:

• The enhanced CRITIC method offers a reliable solution for short-term coal supplier evaluation.
• This approach addresses the limitations of existing methods in capturing indicator variability.
• It provides coal-electricity firms with a more accurate and stable tool for supplier management.