In the area of marketing, industrial market segmentation usually refers to the demand side of the market, the goal being for companies to segment groups of potential customers with similar wants and demands that may respond to a particular marketing mix. When companies also work with potentially different suppliers, segmenting the supply side of the market can be very valuable as well. There are many supplier segmentation approaches in the literature: Parasuraman (1980), Kraljic (1983), Dyer et al. (1998), Olsen and Ellram (1997), Bensaou (1999), Kaufman et al. (2000), van Weele (2000), Hallikas et al. (2005), Rezaei and Ortt (2012).