In today’s competitive business world, it is extremely important for decision makers to have access to decision support tools in order to make quick, right and accurate decisions. One of these decision-making areas is supplier or service provider selection. Supplier selection is a multi – criteria decision making process that deals with the optimization of conflicting objectives such as quality, services, cost, and delivery time. Although numbers of multiple criteria decisions making (MCDM) methods are available for solving MCDM problem, it’s observed that in most of these methods the ranking results are very sensitive. This work proposes a multi-criteria decision making (MCDM) based framework that is used to evaluate supplier selection by using an entropy weight method (EWM) for calculation of weightage of each criterion, once the weightage is calculated the EWM is combined with Proximity Indexed Value (PIV) Method for calculating the supplier rank. Finally, the ranking performance of PIV method is compared with other MCDM Methods for same set of alternative and criterions. A numerical example along with graphical illustrations is considered and comparison analysis is provided to test the feasibility of the proposed method. In the illustrative example a manufacturing firm is looking for select most suitable supplier for supply among the ten-supplier based on four different criteria such as Price/Cost, Service, Quality and Delivery, in which Price/Cost is non-beneficial and the attributes pertaining to other criteria are beneficial one.