scholarly journals Multi-Criteria Decision Making (MCDM) Model for Supplier Evaluation and Selection for Oil Production Projects in Vietnam

Processes ◽  
2020 ◽  
Vol 8 (2) ◽  
pp. 134 ◽  
Author(s):  
Chia-Nan Wang ◽  
Hsiung-Tien Tsai ◽  
Thanh-Phong Ho ◽  
Van-Thanh Nguyen ◽  
Ying-Fang Huang
Keyword(s):  
Decision Making ◽  
Business Strategy ◽  
Economic Value ◽  
Oil Production ◽  
Complex Problem ◽  
Supplier Evaluation ◽  
Multi Criteria Decision Making ◽  
Scor Model ◽  
Decision Making Unit ◽  
The Right

The following research utilizes Multi-Criteria Decision Making (MCDM) in order to build a business strategy to reduce product costs, improve competitiveness, focus on production planning based on actual operating capacity and flexible adjustment according to the market, maximize the labor productivity of technology workshops, reduce costs and inventory, and focus on producing many petrochemical products and products of high economic value. Selecting the right materials supplier is of paramount importance to the success of the organization as a whole. Supplier evaluation and the selection of a suitable supplier is a complex problem in which the decision maker must consider both qualitative and quantitative factors. Multi-Criteria Decision Making Models are an effective tool used to solve complex selection issues including multiple criteria and options, especially for qualitative variables. Thus, the author proposes an MCDM model including the Supply Chain Operation Reference (SCOR) model, analytic hierarchy process (AHP) and the Data Envelopment Analysis (DEA) method to evaluate and select the optimal supplier in the oil industry. The criteria used to evaluate potential suppliers are determined through the SCOR model, the weight of all criteria are defined by the AHP model through an expert’s opinion, and DEA is used to rank providers at the final stage. After the model implementation and the results, decision-making unit DMU_01, DMU_04 and DMU_10 are shown to be the best suppliers. This research provides a Multi-Criteria Decision Making model for supplier evaluation and selection in oil production projects. This research also presents useful guidelines for supplier selection processes in other industries.

scholarly journals A Multi-Criteria Decision-Making (MCDM) Approach Using Hybrid SCOR Metrics, AHP, and TOPSIS for Supplier Evaluation and Selection in the Gas and Oil Industry

Processes ◽  
2018 ◽  
Vol 6 (12) ◽  
pp. 252 ◽  
Author(s):  
Chia-Nan Wang ◽  
Ying-Fang Huang ◽  
I-Fang Cheng ◽  
Van Nguyen
Keyword(s):  
Decision Making ◽  
Supplier Selection ◽  
Raw Materials ◽  
Oil Industry ◽  
Supplier Evaluation ◽  
Multi Criteria Decision Making ◽  
Analytic Hierarchy ◽  
Ahp Model ◽  
Decision Making Unit ◽  
Stability And Accuracy

Suppliers are extremely important in business operations. The supplier ensures the supply of materials, raw materials, commodities, etc. in sufficient quantity, quality, stability, and accuracy to meet the requirements of production and business with low costs and on-time deliveries. Therefore, selecting and managing good suppliers is a prerequisite for organizing the production of quality products as desired, according to the schedule, and with reasonable prices and competitiveness in the market. It is also important to gain the support of suppliers in order to continue to improve and achieve more as a business. The evaluation and selection of a supplier is a Multi-Criteria Decision-Making (MCDM) issue, in which the decision-maker is faced with both qualitative and quantitative factors. In this research, the authors propose an MCDM model using a hybrid of Supply Chain Operations Reference metrics (SCOR metrics), the Analytic Hierarchy Process (AHP) model, and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) approach for supplier evaluation and selection in the gas and oil industry. Using literature reviews on SCOR metrics, all criteria that impact supplier selection are defined in the first stage, the AHP model is applied to determine the weight of each factor in the second stage, and the optimal supplier is presented in final stage using the TOPSIS model. As a result, Decision-Making Unit 5 (DMU-05) is found to be the best supplier for the gas and oil industry in this research. The contribution of this work is to propose a new hybrid MCDM model for supplier selection in the gas and oil industry. This research also introduces a useful tool for supplier selection in other industries.

scholarly journals Penilaian Organoleptik Keripik Ubi Jalar Ungu (Ipomoea batatas L.) Pasca Penggorengan Menggunakan Metode Non-Numeric MP-MCDM

2018 ◽  
Vol 6 (2) ◽  
pp. 165-170
Author(s):  
Rahmat Fadhil ◽  
Diswandi Nurba
Keyword(s):  
Decision Making ◽  
Sodium Bicarbonate ◽  
Sweet Potato ◽  
Ipomoea Batatas ◽  
Economic Value ◽  
Quality Parameter ◽  
Slice Thickness ◽  
Multi Criteria Decision Making ◽  
Organoleptic Evaluation ◽  
Purple Sweet Potato

AbstractProcessing of purple sweet potato (Ipomea batatas L.) into chips is a means to improve the economic value. Crispiness is considered as one essential quality parameter for chip products that must be pursued. The thickness of slices and concentration of sodium bicarbonate (NaHCO3) constitute crispiness defining factors. This research was aimed at conducting organoleptic evaluation on a variety of purple sweet potato slice thicknesses and post-frying sodium bicarbonate concentrations using Non-Numeric Multi Person-Multi Criteria Decision Making (MP-MCDM). Research results showed that the Non-Numeric MP-MCDM method had successfully determined decision of the best prioritized decision among different alternative treatments of the ingredient. The preferred decision according to respondent opinions on the basis of organoleptic evaluation including color, aroma, taste, texture and overall acceptance were products from the 3 g/L NaHCO3 concentration with 1 mm (KB) slice thickness and the 3 g/L NaHCO3 concentration with 2 mm (KE) slice thickness and respondents seemed to like (SK) those products.AbstrakPengolahan ubi jalar ungu (Ipomoea batatas L.) menjadi keripik merupakan salah satu cara untuk meningkatkan nilai ekonomi. Kerenyahan adalah salah satu parameter mutu penting bagi produk keripik yang harus diupayakan. Ketebalan irisan dan konsentrasi natrium bikarbonat (NaHCO3) merupakan faktor penentu kerenyahan. Penelitian ini bertujuan untuk melakukan penilaian organoleptik berbagai variasi ketebalan irisan ubi jalar ungu dan kosentrasi natrium bikarbonat pasca penggorengan dengan metode Non-Numeric Multi Person-Multi Criteria Decision Making (MP-MCDM). Hasil penelitian menunjukkan bahwa metode Non-Numeric MP-MCDM telah berhasil menentukan keputusan prioritas terbaik dari berbagai alternatif perlakuan bahan. Keputusan terbaik menurut pendapat responden berdasarkan uji organoleptik yang meliputi warna, aroma, rasa, tekstur dan penerimaan keseluruhan adalah konsentrasi NaHCO3 sebanyak 3 g/L pada ketebalan irisan 1 mm (KB) dan konsentrasi NaHCO3 sebanyak 3 g/L pada ketebalan irisan 2 mm (KE) dengan keputusan suka (SK).

scholarly journals A fuzzy multi-criteria decision-making method for purchasing life insurance in India

2021 ◽  
Vol 10 (1) ◽  
pp. 344-356
Author(s):  
Chinmaya Ranjan Pattnaik ◽  
Sachi Nandan Mohanty ◽  
Sarita Mohanty ◽  
Jyotir Moy Chatterjee ◽  
Biswajit Jana ◽  
...  
Keyword(s):  
Decision Making ◽  
Life Insurance ◽  
Complex Problem ◽  
Insurance Companies ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Insurance Company ◽  
Proposed Model ◽  
Decision Making Problem ◽  
Order Preference

Life insurance is an agreement between an insured and an insurer, where the insurer pays out a sum of money either on a specific period or the death of the insured. Now a day, People can buy a policy through an online platform. There are a lot of insurance companies available in the market, and each company has various policies. Selecting the best insurance company for purchasing an online term plan is a very complex problem. People may confuse to choose the best insurance company for buying an online term. It is a multi-criteria decision making (MCDM) problem, and the problem consists of different criteria and various alternatives. Here in this paper, a model has been proposed to solve this decision-making problem. In this model, a fuzzy multi-criteria decision-making approach combined with technique for order preference by similarity to ideal solution (TOPSIS) and it has been applied to rank the different insurance companies based on online term plans. The experimental results show that the life insurance corporation of India (LIC) gets the top rank out of 12 companies for purchasing an online term plan. A sensitivity analysis has been performed to validate the proposed model.

scholarly journals PRIORITIZATION OF THE LAUNCH OF ICT PRODUCTS AND SERVICES THROUGH LINGUISTIC MULTI-CRITERIA DECISION-MAKING

2018 ◽  
Vol 24 (3) ◽  
pp. 1231-1257 ◽  
Author(s):  
Andr´es CID-LÓPEZ ◽  
Miguel J. HORNOS ◽  
Ram´on A. CARRASCO-GÓNZÁLEZ ◽  
Enrique HERRERA-VIEDMA
Keyword(s):  
Decision Making ◽  
New Products ◽  
Information And Communications Technology ◽  
Practical Case ◽  
Multi Criteria Decision Making ◽  
Technology Sector ◽  
Linguistic Model ◽  
Market Launch ◽  
The Right ◽  
Decision Making Model

The market launch of new products and services is a basic pillar for large and medium-sized companies in the ICT (Information and Communications Technology) sector. Choosing the right moment for it is usually a differentiating factor in terms of competition, since it is a source of competitive advantage. There are several mechanisms and strategies to address this problem from the market perspective. However, the criteria of the different actors involved – managers, sales representatives, experts, etc. – coexist in the corporate sphere and they often differ, causing difficulties in priority setting processes in the launch of a product or service. The assessment of the prioritization of these criteria is usually expressed in natural language, thus adding a great deal of uncertainty. Fuzzy linguistic models have proved to be an efficient tool for managing the intrinsic uncertainty of this type of information. This paper presents a linguistic multi-criteria decision-making model, able to reconcile the different requirements and viewpoints existing in the corporate sector when planning the launch of new products and services. The proposed model is based on the fuzzy 2-tuple linguistic model, aimed at managing linguistic data expressing different corporate criteria, without compromising accuracy in the calculation of said data. In order to illustrate this, a practical case study is presented, in which the model is applied for scheduling the launch prioritization of several new products and services by a telecommunications company, within the deadlines set in its strategic planning.

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