Risk Assessment of Suppliers (SMES) from Customer’s Perspective by Cluster Analysis

SME performance has been receiving increased attention because of a need to address sustainability issues of tier-1 companies in the ever-growing market. In this paper, the authors have used a comprehensive data questionnaire validated by academia and industry experts for this empirical investigation. The SMEs are grouped into clusters based on the identification of manufacturing processes and performance measures. Factors that affect the measure of performance of an SME are analyzed to give a judgement on quality, dependability,and performance achievable aspects. The analysis is done using SPSS software and the most significant factors that influence the clusters are determined. The factors that need to be focused on, to improve the performance of SMEs are studied. With the make in India initiative this study helps to attain certain key tools and on how to tackle the issues faced by SMEs with the help of the suggested mitigation strategies.