Solving a multiple criteria decision-making problem under uncertainty

2003 ◽  
Author(s):  
A. Duenas ◽  
N. Mort
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Decision Making Problem

A New Optimization Method for Supplier Evaluation in the Context of Volume Discount

2011 ◽  
pp. 64-75
Author(s):  
Reza Farzipoor Saen
Keyword(s):  
Decision Making ◽  
Supplier Selection ◽  
Selection Process ◽  
Multiple Criteria Decision Making ◽  
Optimization Method ◽  
Multiple Criteria ◽  
Supplier Evaluation ◽  
Imprecise Data ◽  
Common Criteria ◽  
Decision Making Problem

Supplier selection is a multiple criteria decision making problem that the selection process mainly involves evaluating a number of suppliers according to a set of common criteria for selecting suppliers to meet business needs. Suppliers usually offer volume discounts to encourage the buyers to order more. To select suppliers in the presence of both volume discounts and imprecise data, this chapter proposes an optimization method. A numerical example demonstrates the application of the proposed method.

scholarly journals MOORA under Pythagorean Fuzzy Set for Multiple Criteria Decision Making

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
Luis Pérez-Domínguez ◽  
Luis Alberto Rodríguez-Picón ◽  
Alejandro Alvarado-Iniesta ◽  
David Luviano Cruz ◽  
Zeshui Xu
Keyword(s):  
Decision Making ◽  
Multiobjective Optimization ◽  
Fuzzy Set ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Decision Makers ◽  
Ratio Analysis ◽  
Pythagorean Fuzzy Set ◽  
Decision Making Problem ◽  
Moora Method

The multiobjective optimization on the basis of ratio analysis (MOORA) method captures diverse features such as the criteria and alternatives of appraising a multiple criteria decision-making (MCDM) problem. At the same time, the multiple criteria problem includes a set of decision makers with diverse expertise and preferences. In fact, the literature lists numerous approaches to aid in this problematic task of choosing the best alternative. Nevertheless, in the MCDM field, there is a challenge regarding intangible information which is commonly involved in multiple criteria decision-making problem; hence, it is substantial in order to advance beyond the research related to this field. Thus, the objective of this paper is to present a fused method between multiobjective optimization on the basis of ratio analysis and Pythagorean fuzzy sets for the choice of an alternative. Besides, multiobjective optimization on the basis of ratio analysis is utilized to choose the best alternatives. Finally, two decision-making problems are applied to illustrate the feasibility and practicality of the proposed method.

scholarly journals Comparative Analysis of the Simple WISP and Some Prominent MCDM Methods: A Python Approach

Axioms ◽  
2021 ◽  
Vol 10 (4) ◽  
pp. 347
Author(s):  
Dragiša Stanujkić ◽  
Darjan Karabašević ◽  
Gabrijela Popović ◽  
Edmundas Kazimieras Zavadskas ◽  
Muzafer Saračević ◽  
...  
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Weighted Sum ◽  
Python Programming Language ◽  
Decision Making Problem ◽  
Product Method ◽  
Comparison Of The Results ◽  
Python Programming

This article presents a comparison of the results obtained using the newly proposed Simple Weighted Sum Product method and some prominent multiple criteria decision-making methods. For comparison, several analyses were performed using the Python programming language and its NumPy library. The comparison was also made on a real decision-making problem taken from the literature. The obtained results confirm the high correlation of the results obtained using the Simple Weighted Sum Product method and selected multiple criteria decision-making methods such as TOPSIS, SAW, ARAS, WASPAS, and CoCoSo, which confirms the usability of the Simple Weighted Sum Product method for solving multiple criteria decision-making problems.

New Method for Solving a General Multiple Criteria Decision-Making Problem Under Risk in Fuzzy Environment

2016 ◽  
Vol 15 (05) ◽  
pp. 1157-1179 ◽  
Author(s):  
N. Thillaigovindan ◽  
S. Anita Shanthi ◽  
J. Vadivel Naidu
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Fuzzy Soft Set ◽  
Score Functions ◽  
Fuzzy Environment ◽  
Criterion Weight ◽  
Decision Making Problem ◽  
Criteria Weights ◽  
Interval Valued

This paper considers a multiple criteria decision-making (MCDM) problem under risk in fuzzy environment in its general form. There are m alternatives which need to be ranked on the basis of a set of n criteria. The alternatives and the criteria are evaluated based on a set of l characteristics. The entire data is presented in the form of interval valued intuitionistic fuzzy soft set of root type. In addition each criterion is assigned a subjective criterion weight based on expert’s evaluation and each characteristic is assigned a probability weight on the basis of decision maker’s knowlege and understanding of the importance of the characteristic. This problem may be called as a MCDM problem under risk in fuzzy environment in its general form. A method for ranking the alternatives using the new score functions, prospect theory and method of determining the optimum criteria weights is explained. An algorithm is developed for this purpose and its working illustrated with a suitable example.

scholarly journals Generalized Neutrosophic Soft Expert Set for Multiple-Criteria Decision-Making

Symmetry ◽  
2018 ◽  
Vol 10 (10) ◽  
pp. 437 ◽  
Author(s):  
Vakkas Uluçay ◽  
Memet Şahin ◽  
Nasruddin Hassan
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Decision Process ◽  
Multiple Criteria Decision Making ◽  
Aggregation Operator ◽  
Multiple Criteria ◽  
Neutrosophic Set ◽  
Decision Making Problem

Smarandache defined a neutrosophic set to handle problems involving incompleteness, indeterminacy, and awareness of inconsistency knowledge, and have further developed it neutrosophic soft expert sets. In this paper, this concept is further expanded to generalized neutrosophic soft expert set (GNSES). We then define its basic operations of complement, union, intersection, AND, OR, and study some related properties, with supporting proofs. Subsequently, we define a GNSES-aggregation operator to construct an algorithm for a GNSES decision-making method, which allows for a more efficient decision process. Finally, we apply the algorithm to a decision-making problem, to illustrate the effectiveness and practicality of the proposed concept. A comparative analysis with existing methods is done and the result affirms the flexibility and precision of our proposed method.

scholarly journals INTEGRATED FUZZY MULTIPLE CRITERIA DECISION MAKING MODEL FOR ARCHITECT SELECTION / INTEGRUOTAS NERAIŠKUSIS DAUGIATIKSLIS SPRENDIMŲ PRIĖMIMO MODELIS ARCHITEKTUI ATRINKTI

2012 ◽  
Vol 17 (4) ◽  
pp. 645-666 ◽  
Author(s):  
Violeta Keršulienė ◽  
Zenonas Turskis
Keyword(s):  
Decision Making ◽  
Personnel Selection ◽  
Selection Process ◽  
Multiple Criteria Decision Making ◽  
Computational Procedure ◽  
Multiple Criteria ◽  
Ratio Analysis ◽  
Decision Making Problem ◽  
Linguistic Term ◽  
Decision Making Model

The philosophy of decision making in economics is to assess and select the most preferable solution, implement it and to gain the biggest profit. Important issues such as competitive market, changing technical, political and social environment have a key role in personnel selection. It is the crucial task which determines the company's present and future. Many decisions made cannot be accurately forecast or assessed. Understanding of the multiple criteria method and knowledge to calculate the algorithm of the method allows a decision maker to trust solutions offered by solution support systems to a greater extent. Many individual attributes considered for personnel selection such as organizing ability, creativity, personality, and leadership exhibit vagueness and imprecision. The fuzzy set theory appears as an essential tool to provide a decision framework that incorporates imprecise judgments inherent in the personnel selection process. In this paper, a fuzzy multi-criteria decision making (MCDM) algorithm using the principles of fusion of fuzzy information, additive ratio assessment (ARAS) method with fuzzy numbers (ARAS-F) and step-wise weight assessment ratio analysis (SWARA) technique are integrated. The proposed method is apt to manage information assessed using both linguistic and numerical scales in a decision making problem with a group of information sources. The aggregation process is based on the unification of information by means of fuzzy sets on a basic linguistic term set. The computational procedure of the proposed framework is illustrated through an architect's selection problem. Santrauka Sprendimų priėmimas ekonomikoje pagrįstas galimų sprendinių įvertinimu, tinkamiausio sprendinio atrinkimu, įgyvendinimu ir didžiausio pelno gavimu. Tokie svarbūs klausimai, kaip užsitikrinti vietą konkurencingoje rinkoje, besikeičianti techninė, politinė ir socialinė aplinka, yra vieni svarbiausių parenkant personalą. Tai labai svarbus uždavinys, tiesiogiai veikiantis bendrovės gyvavimą dabar ir ateityje. Daug sprendinių negali būti tiksliai prognozuojami arba įvertinti. Supratimas apie daugiatikslius metodus ir skaičiavimo metodo algoritmo išmanymas yra prielaidos sprendimų priėmėjui pasitikėti sprendiniais, kuriuos pateikia sprendimų priėmimo sistemos. Yra pateikiama daug atskirų rodiklių personalui atrinkti: organizaciniai gebėjimai, kūrybiškumas, asmeninės ir lyderio savybės. Visi šie rodikliai turi vieną bendrą savybę – jie negali būti tiksliai apirėžti. Tokiems uždaviniams spręsti neraiškiųjų aibių teorija gali pateikti sprendimo būdus, kurie įvertina netikslumus, būdingus personalo atrankos procesui. Šiame straipsnyje neraiškusis daugiatikslis sprendimų priėmimo (MCDM) algoritmas, taikant neraiškiosios informacijos sintezės principus, suminį santykinių dydžių vertinimo (ARAS) metodą, kurio reikšmės aprašomos neraiškiaisiais skaičiais (ARAS-F), ir laipsnišką rodiklių svorio santykinių dydžių analizės (SWARA) metodą, yra integruotas. Siūlomas metodas tinkamas informacijai, vertinamai tiek žodžiais, tiek skaitmenimis, išreiškiamoms skalėms, uždaviniui, kurio informacija surenkama iš grupės informacijos šaltinių, apdoroti. Sujungimo procesas grindžiamas informacija, taikant neraiškiųjų aibių teoriją pagrindinėms žodžiais aprašomoms reikšmėms pakeisti. Siūlomo algoritmo taikymas pavaizduotas sprendžiant architekto parinkimo uždavinį.

scholarly journals Analytic Hierarchy Process in Multiple–Criteria Decision–Making: A Model Example

2021 ◽  
Vol 90 ◽  
pp. 01019
Author(s):  
Anna Siekelova ◽  
Ivana Podhorska ◽  
Jorma J. Imppola
Keyword(s):  
Decision Making ◽  
Analytic Hierarchy Process ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Financial Indicators ◽  
Analytic Hierarchy ◽  
Business Partners ◽  
Decision Making Problem ◽  
The Analytic Hierarchy Process ◽  
Hierarchy Process

Managers have to make decisions several times a day. The decision-making process can be defined as an essential activity realized by managers every day. Decisions can be implemented intuitively, or by using relevant decision-making methods. This depends on the nature of the decision, as well as the intensity of its possible future effects. The theory of decision-making can be defined as a relatively young discipline. It can be stated that decision-making is no longer an intuitive process. Most decision-making situations are of a multiple criteria character. In this contribution, the authors focus on multiple-criteria decision-making, to which several methods can be applied. In the practical part, the authors use Saaty's method, also known as the Analytic Hierarchy Process. Saaty is considered to be the most important researcher dealing with the issue of multiple-criteria decision-making. The set multiple-criteria decision-making problem was to choose one business partner out of eight under consideration. The decision-making criteria included selected financial indicators and non-financial criteria. The aim of the contribution is to use the Analytic Hierarchy Process to assess potential business partners and to select an optimal candidate.

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