When developing new products, companies must select the most appropriate sustainable suppliers at the early stages of product development to achieve long‐term sustainability and reduce the high risk of failure inherent in the new product development. Moreover, new products have different market characteristics at each stage of the PLC, which leads to different psychological behaviours among decision‐makers. However, existing research ignores these characteristics of different PLC stages and the bounded rationality of decision‐makers. To overcome above shortcomings, this paper first introduces a variable coefficient into step‐wise weight assessment ratio analysis (SWARA) to obtain criteria weights more reasonably. Then, prospect and regret theories are integrated to comprehensively consider the risk attitude, loss avoidance and regret avoidance psychology of decision‐makers and thereby rank potential suppliers. Finally, the effectiveness of the proposed model is illustrated using the case of seat supplier selection in a renowned global luxury vehicle manufacturer.

中文翻译：

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新产品可持续供应商选择的有限理性模型：产品全生命周期视角

在开发新产品时，公司必须在产品开发的早期阶段选择最合适的可持续供应商，以实现长期可持续性并降低新产品开发中固有的高风险失败。此外，新产品在 PLC 的每个阶段具有不同的市场特征，这导致决策者有不同的心理行为。然而，现有的研究忽略了不同 PLC 阶段的这些特征和决策者的有限理性。为了克服上述不足，本文首先在逐步权重评估比分析 （SWARA） 中引入可变系数，以更合理地获得标准权重。然后，整合前景和遗憾理论，综合考虑决策者的风险态度、损失规避和后悔规避心理，从而对潜在供应商进行排名。最后，以一家全球知名豪华汽车制造商的座椅供应商选择案例来说明所提出的模型的有效性。