Factors Influencing the Decision-Making in Selecting Suppliers of Raw Materials for Gems and Jewelry Industry in Thailand
Keywords:
Gems and Jewelry, Raw Material Suppliers, Decision-MakingAbstract
This research aims to study the factors influencing the decision-making in selecting suppliers of raw materials for gems and jewelry industry in Thailand. The research employed a quantitative approach. The sample consists of 400 small-sized gems and jewelry entrepreneurs registered with the Ministry of Commerce and currently in operation. The sample size was determined using the criterion of 20 times the number of observable variables, and systematic sampling was employed. Data were collected by using a questionnaire and analyzed by using structural equation modeling. The research findings revealed that the decision-making in selecting suppliers of raw materials was the most influenced by the supplier performance, followed by the firm strategic orientation, the relationship quality, and the supplier capability, respectively. When considering only directly influenced, decision-making in selecting suppliers of raw materials was the most directly influenced by the supplier performance, followed by the relationship quality and the supplier capability, respectively. However, the firm strategic orientation does not have a direct influence on the decision-making in supplier selection. The results of this research provide valuable insights for both public and private sectors involved in the gems and jewelry industry to formulate more targeted and effective policies and support measures. Additionally, related agencies such as the Ministry of Commerce, the Ministry of Industry, or agencies that promote small and medium-sized enterprises can leverage the findings to develop strategies to enhance the competitiveness of Thailand's gems and jewelry industry in the global market.
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