A data fusion approach for business partners selection

Abstract

Strategies of market diversification push companies to provide novel products and services to customers, belonging to new geographic and demographic segments. Additionally, market development strategies targeting non-buying customers in selected segments or new buyers in new segments may be paired with increased product diversification and improved business agility. To fulfil the requirements associated with manufacturing, a wider range of products and increased customised demands imply having a wider set of competences available. Most companies find it increasingly difficult to have all required competences in their internal structures; therefore, they need to rely on strategic business partnerships and suppliers to be successful. In this paper, we discuss a data fusion decision approach for supplier and business partner evaluation, which includes past, current and forecast information about business partners. This approach may prove vital for companies to establish strong collaborative business networks.