Search results

The primary aim of this study is to provide actionable guidance for augmenting profitability in photovoltaic power plant investments within Iran’s solar energy sector. By emphasizing prudent capital management and strategic investment decisions, our research seeks to assist emerging businesses in attaining sustained success in this domain.

This study presents a comprehensive approach to refined decision-making in Iran’s solar energy sector. Our methodology integrates the best-worst method, ArcGIS software for site selection, and the TOPSIS method for decision-making, aiming to enhance precision and reliability.

Our research has identified ten promising regions suitable for photovoltaic power plant installations in Iran. Leveraging the TOPSIS method, we have made optimal selections among these alternatives. Furthermore, our exhaustive cost analysis, incorporating factors like land prices, system maintenance, revenue estimation, and various financial scenarios, has yielded insights into project cost-effectiveness.

By filling a notable gap in the literature regarding optimal site selection and investment strategies for photovoltaic power plants in Iran, our research contributes to the sustainable development of solar energy infrastructure. Through a thorough literature review and the development of a novel methodology, we offer valuable guidance for businesses and investors seeking success in Iran’s solar energy sector. Our study represents a significant advancement by introducing a novel methodology that integrates the best-worst method, ArcGIS software, and the TOPSIS method for site selection and investment analysis. These findings furnish valuable guidance for businesses seeking success in the solar energy sector, thereby contributing to the sustainable development of renewable energy infrastructure in Iran and beyond.

The purpose of our research on blockchain technology is to unveil its immense potential, understand its applications and implications and identify opportunities to revolutionize existing systems and processes. This research aims to inspire the creation of new innovative solutions for industries. By harnessing blockchain technology, organizations can pinpoint key areas that could significantly benefit from its use, such as streamlining operations, providing secure and transparent digital solutions and fortifying data security.

This study presents a robust multi-criteria decision-making framework for assessing blockchain drivers in selected Indian industries. We initiated with an extensive literature review to identify potential drivers. We then sought the opinions of experts in the field to validate and refine our list. This meticulous process led us to identify 26 drivers, which we categorized into five main categories. Finally, we employed the Best-Worst Method to determine the relative importance of each criterion, ensuring a comprehensive and reliable assessment.

The authors have ranked the blockchain drivers based on their degree of importance using the Best-Worst Method. This study reveals the priority of BC implementation, with the retail industry identified as the most in need, followed by the Banking and Healthcare industries. Various critical factors are identified where blockchain technology could help reduce costs, increase efficiency and enable new innovative business models.

While this study acknowledges potential bias in driver assessment relying on literature and expert opinions, its findings carry significant practical implications. We have identified key areas where blockchain technology could be transformative by focusing on select industries. Future research should encompass other industries and real-world case studies for practical insights that could delve into the adoption challenges and benefits of blockchain technology in many other industries, thereby amplifying the relevance of our findings.

Blockchain is a groundbreaking, innovative technology with immense potential to revolutionize industries. Past research has explored the benefits and challenges of blockchain implementation in specific industries or sectors. This creates a gap in research regarding systematically classifying and ranking the importance of blockchain across different Indian industries. Our research seeks to address this gap by using advanced multi-criteria decision-making techniques. We aim to provide a comprehensive understanding of the significance of blockchain technology in critical Indian industries, offering valuable insights that can inform strategic decision-making and drive innovation in the country’s business landscape.

In today’s age of globalization, every industry puts well-determined efforts toward surviving in the market. Industries are well aware of the fact that offering quality products and improving customer satisfaction is the strategic decision toward successful outcomes. During the recent years, food companies have undergone remarkable growth and development worldwide. In the Middle East, with a wide variety of demand and range of cultures, Iran is leading the food industries and possessed a top position of paramount importance. The present research aims to identify and prioritize barriers to implementing total quality management (TQM) in the Solico Food and Beverage Production Group (SFBPG) as a case study.

Firstly, an initial list of barriers is prepared based on a literature review. The identified barriers are then classified into four groups namely behavioral, technical-structural, human and cultural and strategic barriers based on the viewpoint of an expert team at a well-known food company. Secondly, the barriers are prioritized by adopting a special approach to multi-criteria decision-making (MCDM) called the Group Best-Worst Method (GBWM).

The obtained results reveal that the most substantial barriers prohibiting the successful implementation of TQM are lack of top management commitment and participation (0.334), high organizational burnout rate (0.128), instability and frequent changes of senior managers (0.123).

In general, this research has ranked the barriers from the most important one to the least significant instance. Additionally, this can enable managers and practitioners in the food industry to make worthy decisions and suggest multiple solutions to cope with obstacles to the successful implementation of TQM.

Integrating digital technologies such as artificial intelligence and blockchain make the agri-food supply chain (ASCM) transparent, resilient and flexible. However, its adoption is quite complex due to various anticipated barriers. So, the presented research purposes to explore and investigate the barriers.

This study employs hybrid approach including Best-Worst Method (BWM) and Graph Theoretic Approach (GTA). Data were collected from industry experts employed in the agri-food sector and analyzed by means of standard operating procedures.

GTA results show that Technological barriers have the highest barrier intensity. Moreover, BWM results show that “Increased operational complexity” is the topmost barrier to adopting blockchain in ASCM. “Lack of interoperability” ranks second among the identified barriers.

The results benefit the managers, practitioners and researchers to understand the anticipated barriers so that necessary strategies can be developed, and organizations can become more resilient, agile, transparent and traceable.

The presented work is the first to develop a mathematical model and assess the industry’s eagerness to adopt blockchain in ASCM. The proposed framework will greatly benefit the stakeholders working in agri-food sector.

The United Nations member countries adopted a set of 17 sustainable development goals (SDGs) to achieve a better and more sustainable future for all. It encourages the use of sustainable practices during new product development (NPD). Competitiveness has put pressure on organizations to maintain their market share and look for new approaches related to NPD. The current study aims to focus on creating a framework that can help to achieve the SDGs by adopting agile new product development (ANPD) practices and Industry 4.0 technologies.

From the literature, various ANPD practices, Industry 4.0 technologies, performance metrics, their interconnection and their contribution toward achieving SDGs are extracted. The weights of selected Industry 4.0–ANPD practices are computed by robust best worst method (RBWM), and the Fuzzy-VIKOR method is used to rank the selected performance metrics. To test the robustness of the developed framework, sensitivity analysis is also performed.

The results show that among the various Industry 4.0–ANPD practices “Multi-skilled employees” have the highest weight followed by “Customer requirement analysis and prioritization.” Whereas for performance metrics, “The number of innovative products launched per year” is ranked first, with the “Average time between two launches” at second place.

This research contributes to the adoption of ANPD practices and Industry 4.0 technologies for the achievement of the business SDGs. The shortlisted Industry 4.0–ANPD practices will help in resolving the social and environmental issues. The set of performance metrics will help practitioners and managers to evaluate the performance of ANPD in the context of business SDGs.

This study adds to the understanding related to Industry 4.0–ANPD practices adoption. And to the best of the authors’ knowledge, it is believed that no similar work has been done previously and by using industry insights into technology components, this work contributes to valuable insights into the subject.

Acquainting organisations regarding the concepts of Total Quality Management (TQM) and its implementation is one measure that effectively improves their global position and performance. Kaizen is one of the concepts of TQM, which focuses on low-cost organisational transformational methods and often saves consuming significant resources (time, capital, etc.). Using Kaizen in organisational transformation sets efficient guidelines to improve processes agility and leanness and increase manufacturing productivity. Hence, this study aims to identify the key success factors in Kaizen projects and presents a score function that measures the readiness level of organisations to implement Kaizen projects.

A literature review first extracts the key success factors in Kaizen projects. Afterwards, the selected factors are screened via the fuzzy Delphi method using expert opinions from the manufacturing sector of an emerging economy. Subsequently, their importance is cross-examined by the Bayesian best–worst Method (BBWM). The BBWM is one of the most recent multiple criteria decision-making (MCDM) methods that lead to stable, dynamic and robust pairwise comparisons. After analysing the weights of the key factors, a score function is designed so that organisations can understand how much they are ready to launch Kaizen projects.

According to the findings, “Training and education” and “Employee attitude” played an important role in the success of Kaizen projects. The literature extracted 22 success factors of Kaizen projects, and 10 factors were eliminated through the fuzzy Delphi method. Twelve success factors in Kaizen projects were evaluated and investigated through the BBWM. Matching to this method, “Training and education” and “Employee attitude” weighed 0.119 and 0.112, relatively. Furthermore, “Support from senior management” was the least important factor.

To the best knowledge of the authors, this is the first research in which the success factors of Kaizen projects have been identified and analysed through an integrated multi-layer decision-making framework. Although some studies have investigated the key success factors of Kaizen projects and analysed them through statistical approaches, research that examines the success factors of Kaizen projects through MCDM methods is yet to be reported. Moreover, the score function that measures the level of readiness of each organisation for the successful implementation of Kaizen projects is a unique contribution to this research.

The purpose of this study is to analyze the impacts of the COVID-19 pandemic on the performance of companies using a hybrid Multi-Criteria Decision-Making (MCDM) approach. Specifically, the study examines Türkiye’s Top 500 Industrial Enterprises to analyze their performance before and during the pandemic, and to capture their performance in determining investment and production strategy.

To achieve the study’s objectives, the Fuzzy Best-Worst Method (F-BWM) was used to obtain importance levels of performance indicators, decreasing the vagueness in experts’ decision-making preferences. The Measurement Alternatives and Ranking According to Compromise Solution (MARCOS) method was used to rank enterprises based on their performance.

The COVID-19 pandemic has clearly had a substantial impact on the performance of Türkiye’s top 500 industrial enterprises. While some companies suffered decreased sales, others reported that their revenues increased or remained constant during the outbreak. The results reveal that the pandemic caused a shift in the initial ranking outcomes for the first two enterprises.

The study’s limitations include the sample size and the time period under consideration, which may have an impact on the generalizability of the findings.

Decision-makers’ investment, employment and operational decisions were influenced by the impact of the COVID-19 pandemic. The results provide insights for decision-makers on how to achieve higher growth and performance under the pressure of the pandemic.

The study’s practical consequences help decision-makers understand how to attain higher growth and performance in the face of the epidemic.

The originality of this study lies in using a hybrid MCDM approach to examine the impact of the COVID-19 pandemic on company performance. A hybrid MCDM approach is proposed to help decision-makers make the best possible investment and implementation decisions.

Circularity has acted as an essential phenomenon for small and medium enterprises (SMEs) in emerging economies, pressuring entrepreneurs to its adoption in their businesses. During the adoption and implementation of circularity, entrepreneurs or circular entrepreneurs (to be precise) are facing various challenges to its effective functioning. However, the scholarly literature has offered limited research into this phenomenon. Thus, the purpose of this research is to identify the various barriers and sub-barriers for circular entrepreneurs to adopt circularity in SMEs of emerging economies.

A combined qualitative and quantitative approach was employed to achieve the objectives of the study. In the first stage, through an extensive literature review, a list of barriers was identified and in the second stage, a deductive approach was employed to finalize the barriers. Finally, Best-Worst Method (BWM), a multi-criteria decision-making (MCDM) method, was used to analyse the significant importance of the barriers.

The findings of the study suggested the “financial barrier” as the first-ranked barrier in the adoption of Circular Business Models (CBMs), followed by the “regulatory and operational barrier” as the top second and third barriers. In terms of sub-barriers, “lack of access to funding and capital” has been identified as the top sub-barrier in the adoption of CBM, followed by “excessive regulations and red tape” and “challenges due to ambiguity of the concept”.

To transition from a circular to a linear business approach considerably quicker and smoother, entrepreneurs may utilize the findings of this study as a blueprint for the steps to overcome the barriers in a linear to a circular transition.

This research differentiates from other studies due to solicited input directly from the people who are most familiar with the challenges of making the transition from linear to CBM, i.e. the entrepreneurs themselves.

Extreme weather events are on the rise around the globe. Nevertheless, it is unclear how these extreme weather events have impacted the supply chain sustainability (SCS) framework. To this end, this paper aims to identify and analyze the aspects and criteria to enable manufacturing firms to navigate shifts toward SCS under extreme weather events.

The Best-Worst Method is deployed and extended with the entropy concept to obtain the degree of significance of the identified framework of aspects and criteria for SCS in the context of extreme weather events through the lens of managers in the manufacturing firms of a developing country-Nigeria.

The results show that extreme weather preparedness and economic aspects take center stage and are most critical for overcoming the risk of unsustainable patterns within manufacturing supply chains under extreme weather events in developing country.

This study advances the body of knowledge by identifying how extreme weather events have become a significant moderator of the SCS framework in manufacturing firms. This research will assist decision-makers in the manufacturing sector to position viable niche regimes to achieve SCS in the context of extreme weather events for expected performance gains.

Data breaches in the US healthcare sector have more than tripled in the last decade across all states. However, to this day, no established framework ranks all states from most to least at risk for healthcare data breaches. This gap has led to a lack of proper risk identification and understanding of cyber environments at state levels.

Based on the security action cycle, the National Institute of Standards and Technology (NIST) cybersecurity framework, the risk-planning model, and the multicriteria decision-making (MCDM) literature, the paper offers an integrated multicriteria framework for prioritization in cybersecurity to address this lack and other prioritization issues in risk management in the field. The study used historical breach data between 2015 and 2021.

The findings showed that California, Texas, New York, Florida, Indiana, Pennsylvania, Massachusetts, Minnesota, Ohio, and Georgia are the states most at risk for healthcare data breaches.

The findings highlight each US state faces a different level of healthcare risk. The findings are informative for patients, crucial for privacy officers in understanding the nuances of their risk environment, and important for policy-makers who must grasp the grave disconnect between existing issues and legislative practices. Furthermore, the study suggests an association between positioning state risk and such factors as population and wealth, both avenues for future research.

Theoretically, the paper offers an integrated framework, whose basis in established security models in both academia and industry practice enables utilizing it in various prioritization scenarios in the field of cybersecurity. It further emphasizes the importance of risk identification and brings attention to different healthcare cybersecurity environments among the different US states.