A MOORA based fuzzy multi-criteria decision making approach for supply chain strategy selection

Abstract

To acquire the competitive advantages in order to survive in the global business scenario, modern companies are now facing the problems of selecting key supply chain strategies. Strategy selection becomes difficult as the number of alternatives and conflicting criteria increases. Multi criteria decision making (MCDM) methodologies help the supply chain managers to take a lead in a complex industrial set-up. The present investigation applies fuzzy MCDM technique entailing multi-objective optimization on the basis of ratio analysis (MOORA) in selection of alternatives in a supply chain. The MOORA method is utilized to three suitable numerical examples for the selection of supply chain strategies (warehouse location selection and vendor/supplier selection). The results obtained by using current approach almost match with those of previous research works published in various open journals. The empirical study has demonstrated the simplicity and applicability of this method as a strategic decision making tool in a supply chain.

Optimization of warehouse location through fuzzy multi-criteria decision making methods

“…Farahani and Asgari (2007) offered a structured framework of fusion multi-attribute and multi-objective set covering problem that integrates TOPSIS and utility function (from global criterion method) for locating military warehouses. Dey et al (2012) proposed fuzzy extended multi-objective optimization on the basis of ratio analysis (MOORA) for its simplicity and applicability to identify one of the supply chain strategies namely warehouse location selection.…”

“…Strategy selection becomes difficult as the number of alternatives and conflicting criteria increases (Dey et al, 2012). So, robust evaluation models are crucial in order to incorporate several conflicting criteria meritoriously.…”

Investment Portfolio Formation Using Multi-criteria evaluation Method MULTIMOORA

“…"Turto analizės bei investavimo strategijos pasirinkimas tampa vis sunkesnis, nes daugėja pasirinkimo alternatyvų, o kriterijai, pagal kuriuos renkamės, prieštarauja vieni kitiems" (Dey et al 2012 (Brauers 2004). Tas pats Brauers (Brauers, Zavadskas 2012) patobulino šį metodą, sukūrė MULTIMOORA (angl.…”

A COPRAS-F base multi-criteria group decision making approach for site selection of wind farm

“…In classical MCDM decision makers make decision under certainty on the basis of objective criteria. Where the criteria values and weights cannot be assign definitely, there fuzzy set theory is introduced to model the problem of uncertainty in decision making and such problem is known as fuzzy multiple criteria decision making (Dey et al 2012). …”