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1 – 10 of over 1000In this paper, the four popular multiple-criteria decision-making (MCDM) methods in fuzzy environment are utilized to reflect the vagueness and uncertainty on the judgments of…
Abstract
Purpose
In this paper, the four popular multiple-criteria decision-making (MCDM) methods in fuzzy environment are utilized to reflect the vagueness and uncertainty on the judgments of decision-makers (DMs), because the crisp pairwise comparison in these conventional MCDM methods seems to be insufficient and imprecise to capture the right judgments of DMs. Of these methods, as Fuzzy analytic hierarchy process (F-AHP) is used to calculate criteria weights, the other methods; Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (F-TOPSIS), Fuzzy Grey relational analysis (F-GRA) and Fuzzy Preference Ranking Organization METhod for Enrichment of Evaluations (F- PROMETHEE II) are used to rank alternatives in the three different ways for a comparative study.
Design/methodology/approach
The demand for green products has dramatically increased because the importance and public awareness of the preservation of natural environment was taken into consideration much more in the last two decades. As a result of this, especially manufacturing companies have been forced to design more green products, resulting in a problem of how they incorporate environmental issues into their design and evaluate concept options. The need for the practical decision-making tools to address this problem is rapidly evolving since the problem turns into an MCDM problem in the presence of a set of green concept alternatives and criteria.
Findings
The incorporation of fuzzy set theory into these methods is discussed on a real-life case study, and a comparative analysis is done by using its numerical results in which the three fuzzy-based methods reveal the same outcomes (or rankings), while F-GRA requires less computational steps. Moreover, more detailed analyses on the numerical results of the case study are completed on the normalization methods, distance metrics, aggregation functions, defuzzification methods and other issues.
Research limitations/implications
The designing and manufacturing environmental-friendly products in a product design process has been a vital issue for many companies which take care of reflecting environmental issues into their product design and meeting standards of recent green guidelines. These companies have utilized these guidelines by following special procedures at the design phase. Along the design process consisting of various steps, the environmental issues have been considered an important factor in the end-of-life of products since it can reduce the impact on the nature. In the stage of developing a new product with the aim of environmental-friendly design, the green thinking should be incorporated as early as possible in the process.
Practical implications
The case study was inspired from the previous work of the author, which was realized in a hot runner systems manufacturer, used in injection molding systems in a Canada. In a new product development process, the back- and front-ends of development efforts mainly determine the following criteria: cost, risk, quality and green used in this paper. The case study showed that the three fuzzy MCDM methods come to the same ranking outcomes. F-GRA has a better time complexity compared to the other two methods and uses a smaller number of computational steps. Moreover, a comparative analysis of the three F-MCDM methods; F-PROMETHEE II, F-TOPSIS and F-GRA used in ranking for green concept alternatives using the numerical results of the case study. For the case study; as seen in table 20, the three F-MCDM methods produced the numerical results on the rankings of the green concept alternatives as follows; {Concept A-Concept C–Concept B–Concept D}.
Social implications
Inclusion of environmental-related criteria into concept selection problem has been gaining increasing importance in the last decade. Therefore, to facilitate necessary calculations in applying each method especially with its fuzzy extension, it can be developed a knowledge-based (KB) or an expert system (ES) to help the DMs make the required calculations of each method, and interpret its results with detailed analysis.
Originality/value
The objective of the research was to propose a F-AHP based F-MCDM approach to green concept selection problem through F-PROMETHEE II, F-TOPSIS and F-GRA methods. As the F-AHP is used to weight evaluation criteria, the other methods are respectively used for ranking the concept alternatives and determine the best concept alternative.
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Wei‐Jaw Deng, Wen Pei and Chih‐Hung Tsai
Decision makers in the service industry must effectively cope with queuing problems, service capacity optimization, service efficiency and service quality problems. This study…
Abstract
Decision makers in the service industry must effectively cope with queuing problems, service capacity optimization, service efficiency and service quality problems. This study proposes a computer simulation‐enabled MCDM framework that integrates computer simulation analysis, Taguchi method, expert opinion and multiple criteria decision making (MCDM) to assist decision makers in coping with decision problems. In this framework, Taguchi method is adopted to reduce the time required for the simulation experiment. Computer simulation analysis is adopted to obtain useful information for rapid decision‐making without interrupting actual production. MCDM is used to select the optimal alternative. The illustrative result is extremely promising.
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Eser Yeşildağ, Ercan Özen and Ender Baykut
Introduction: Decision making is always based on several factors which may affect the possible outcomes, especially in financial markets. Instead of having many criteria which may…
Abstract
Introduction: Decision making is always based on several factors which may affect the possible outcomes, especially in financial markets. Instead of having many criteria which may be required for decision making, “Multiple Criteria Decision Making” (MCDM) models might be used as a tool to reduce all criteria into a single one.
Purpose: The aim of this study is to measure the financial performance of commercial banks listed on Borsa Istanbul (BIST) by the MCDM.
Method: To this end, data from 15 different financial ratios from 11 commercial banks were used between the periods of 2002 and 2018. Both TOPSIS and gray relational analysis (GRA) models were used, which are commonly used in the literature for detecting the financial performance of listed banks in BIST based on their consolidated financial statements.
Results: According to the TOPSIS method, while the best bank is QNB Finansbank, HALKB, a public bank, was determined as the best bank using the GRA method. There is no significant correlation between financial performance indicators and market returns obtained by either method, with exceptions. There is no generally significant correlation detected between financial ratios and market returns. Accordingly, it is concluded that the bank stock prices in the study are shaped by the influence of external factors and expectations. The study results include information that can be used for different purposes among bank managers, academics and financial investors.
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William Ho, Prasanta K. Dey and Helen E. Higson
The purpose of this paper is to review the literature which focuses on four major higher education decision problems. These are: resource allocation; performance measurement;…
Abstract
Purpose
The purpose of this paper is to review the literature which focuses on four major higher education decision problems. These are: resource allocation; performance measurement; budgeting; and scheduling.
Design/methodology/approach
Related articles appearing in the international journals from 1996 to 2005 are gathered and analyzed so that the following three questions can be answered: “What kind of decision problems were paid most attention to?”; “Were the multiple criteria decision‐making techniques prevalently adopted?”; and “What are the inadequacies of these approaches?”
Findings
Based on the inadequacies, some improvements and possible future work are recommended, and a comprehensive resource allocation model is developed taking account of these factors. Finally, a new knowledge‐based goal programming technique which integrates some operations of analytic hierarchy process is proposed to tackle the model intelligently.
Originality/value
Higher education has faced the problem of budget cuts or constrained budgets for the past 30 years. Managing the process of the higher education system is, therefore, a crucial and urgent task for the decision makers of universities in order to improve their performance or competitiveness.
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Evangelia Triperina, Georgios Bardis, Cleo Sgouropoulou, Ioannis Xydas, Olivier Terraz and Georgios Miaoulis
The purpose of this paper is to introduce a novel framework for visual-aided ontology-based multidimensional ranking and to demonstrate a case study in the academic domain.
Abstract
Purpose
The purpose of this paper is to introduce a novel framework for visual-aided ontology-based multidimensional ranking and to demonstrate a case study in the academic domain.
Design/methodology/approach
The paper presents a method for adapting semantic web technologies on multiple criteria decision-making algorithms to endow to them dynamic characteristics. It also showcases the enhancement of the decision-making process by visual analytics.
Findings
The semantic enhanced ranking method enables the reproducibility and transparency of ranking results, while the visual representation of this information further benefits decision makers into making well-informed and insightful deductions about the problem.
Research limitations/implications
This approach is suitable for application domains that are ranked on the basis of multiple criteria.
Originality/value
The discussed approach provides a dynamic ranking methodology, instead of focusing only on one application field, or one multiple criteria decision-making method. It proposes a framework that allows integration of multidimensional, domain-specific information and produces complex ranking results in both textual and visual form.
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Sotirios N. Denekos, Nikitas-Spiros Koutsoukis, Efstathios T. Fakiolas, Ioannis Konstantopoulos and Nikolaos P. Rachaniotis
Refugee camps are not easily welcomed by local communities. The purpose of this paper is to outline a structured approach to support the decision-making process for siting refugee…
Abstract
Purpose
Refugee camps are not easily welcomed by local communities. The purpose of this paper is to outline a structured approach to support the decision-making process for siting refugee camps in mainland Greece using multiple criteria, including local opposition. A suitability analysis generates a list of potential sites and a multiple criteria evaluation is applied. The motivation is the development of a methodology that can support choices and policies regarding the refugee camps siting problem, incorporating the need to address local opposition.
Design/methodology/approach
The proposed methodology combines geographic information systems (GIS) with multiple criteria decision-making (MCDM) techniques. These are used to develop a location classification and ranking model based on related criteria and subcriteria, attributes and weights. The region of Peloponnese in Greece is selected as a case study to validate the approach.
Findings
The lack of predefined candidate sites for refugee camps necessitates, initially, tackling a site search problem to generate a pool of potential sites through a suitability analysis. Subsequently, using the GIS the pool yields a subset of potential sites, satisfying all the criteria to setup a refugee camp. Through the current analysis the suitability of the single existing refugee camp site in Peloponnese can be evaluated. Finally, a “with and without” analysis, excluding the social criterion, depicts the changes in the candidate sites pool and their scores.
Research limitations/implications
There is a lack of relevant literature taking into account the local opposition or sociopolitical implications as decision criteria. The selection of the appropriate criteria is a complex process that involves the cooperation of many experts. The main criteria, subcriteria and their attributes were determined according to existing literature and authors' informed judgment.
Originality/value
The proposed methodology can help decision-makers to setup a decision-making system and process for identifying refugee camps' sites using multiple criteria, including local opposition.
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The purpose of this paper is to present a hybrid intuitionistic fuzzy technique for order preference by similarity to ideal solution (TOPSIS) method, called intuitionistic fuzzy…
Abstract
Purpose
The purpose of this paper is to present a hybrid intuitionistic fuzzy technique for order preference by similarity to ideal solution (TOPSIS) method, called intuitionistic fuzzy ordered weighted averaging weighted averaging (OWAWA) distance TOPSIS (IFOWAWAD-TOPSIS) method for intuitionistic fuzzy multiple-criteria decision making (MCDM) problems.
Design/methodology/approach
Based on the OWAWA operator, the authors develop the intuitionistic fuzzy OWAWA distance measure, then the IFOWAWAD-TOPSIS method is obtained by using the IFOWAWAD and traditional TOPSIS.
Findings
The developed IFOWAWAD-TOPSIS method can overcome the drawback of traditional TOPSIS method that cannot consider both the subjective information of attributes and the attitudinal character of decision maker.
Research limitations/implications
Clearly, this paper is devoted to the OWA operator, MCDM and intuitionistic fuzzy theory.
Practical implications
The developed method is applicable in a wide range of situations such as decision-making, statistics, engineering and economics. A numerical example concerning investment selection is given to illustrate the practicability and usefulness of the proposed approach.
Originality/value
This paper fulfils an identified need to study how to make a decision considering both the subjective information of attribute and the attitudinal character of decision maker in intuitionistic fuzzy environment.
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Reza Fattahi, Reza Tavakkoli-Moghaddam, Mohammad Khalilzadeh, Nasser Shahsavari-Pour and Roya Soltani
Risk assessment is a very important step toward managing risks in various organizations and industries. One of the most extensively applied risk assessment techniques is failure…
Abstract
Purpose
Risk assessment is a very important step toward managing risks in various organizations and industries. One of the most extensively applied risk assessment techniques is failure mode and effects analysis (FMEA). In this paper, a novel fuzzy multiple-criteria decision-making (MCDM)-based FMEA model is proposed for assessing the risks of different failure modes more accurately.
Design/methodology/approach
In this model, the weight of each failure mode is considered instead of risk priority number (RPN). Additionally, three criteria of time, cost and profit are added to the three previous risk factors of occurrence (O), severity (S) and detection (D). Furthermore, the weights of the mentioned criteria and the priority weights of the decision-makers calculated by modified fuzzy AHP and fuzzy weighted MULTIMOORA methods, respectively, are considered in the proposed model. A new ranking method of fuzzy numbers is also utilized in both proposed fuzzy MCDM methods.
Findings
To show the capability and usefulness of the suggested fuzzy MCDM-based FMEA model, Kerman Steel Industries Factory is considered as a case study. Moreover, a sensitivity analysis is conducted for validating the achieved results. Findings indicate that the proposed model is a beneficial and applicable tool for risk assessment.
Originality/value
To the best of authors’ knowledge, no research has considered the weights of failure modes, the weights of risk factors and the priority weights of decision-makers simultaneously in the FMEA method.
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Djan Magalhaes Castro and Fernando Silv Parreiras
Governments around the world instituted guidelines for calculating energy efficiency of vehicles not only by models, but by the whole universe of new vehicles registered. This…
Abstract
Governments around the world instituted guidelines for calculating energy efficiency of vehicles not only by models, but by the whole universe of new vehicles registered. This paper compiles Multi-criteria decision-making (MCDM) studies related to automotive industry. We applied a Systematic Literature Review on MCDM studies published until 2015 to identify patterns on MCDM applications to design vehicles more fuel efficient in order to achieve full compliance with energy efficiency guidelines (e.g., Inovar-Auto). From 339 papers, 45 papers have been identified as describing some MCDM technique and correlation to automotive industry. We classified the most common MCDM technique and application in the automotive industry. Integrated approaches were more usual than individual ones. Application of fuzzy methods to tackle uncertainties in the data was also observed. Despite the maturity in the use of MCDM in several areas of knowledge, and intensive use in the automotive industry, none of them are directly linked to car design for energy efficiency. Analytic Hierarchy Process was identified as the common technique applied in the automotive industry.
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Shervin Zakeri and Mohammad Ali Keramati
Supplier selection is a complex multiple criteria decision (MCDM) problem which directly depends on decision makers’ choice. Some decisions are getting involved with linguistic…
Abstract
Purpose
Supplier selection is a complex multiple criteria decision (MCDM) problem which directly depends on decision makers’ choice. Some decisions are getting involved with linguistic variables and they are not mathematically operable. To solve a typical decision problem through MCDM techniques, a number or a numerical interval should be defined. The purpose of this paper is to focus on that numerical interval and in a case of supplier selection, the aim is to close the decisions to the real number that the decision maker mentions and this number is in a numerical interval.
Design/methodology/approach
The proposed method deals with grey relational analysis (GRA) and develops it by applying triangular fuzzy numbers. The grey numbers have two defined bounds; the proposed method defines two fuzzy bounds for each grey attribute. In the proposed method, the fuzzy membership function has been employed for each bounds of grey attribute to make them to fuzzy bounds with two undefined bounds. Also to make comparison, with employing of TOPSIS technique, both of the grey fuzzy combination decision matrix and the original grey decision matrix are obtained.
Findings
The results indicate that, except to the ideal solutions, the grey relation coefficient for each alternative is too close to each other. Indeed, they are too close to zero. Applying the proposed method in problem of supplier selection shows the difference between two selected supplier in proposed method and the original grey method.
Originality/value
As mentioned heretofore this paper aims to make decision makers’s decision more accurate and actually there is no other researches which used this combination method.
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