The research on supplier selection in supply chain management under incomplete information market

It is a strategic decision-making process to select suppliers in supply chain management. Under the circumstance of incomplete market information separating equilibrium and pooling equilibrium are worked out and analyzed, which proves independent third-party certification (TPC) agency play an important role in supplier selection. Due to TPC the efficient supplier certified shall be selected by the buyer and the speculative supplier has to give up for the prohibitive costs.