An application of TOPSIS method for ranking different strategic planning methodology

Esfandiari, Mohsen; Rizvandi, Mehdi

doi:10.5267/j.msl.2014.6.022

Cited by 16 publications

(8 citation statements)

References 17 publications

(16 reference statements)

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“…There are many Multi Criteria Decision Making (MCDM) methods available in literature for ranking such as Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) (Esfandiari and Rizvandi 2014), Analytic Hierarchy Process (AHP) (Cheng et al 1999), and Grey Weighted Sum Model (GWSM) (Esangbedo and Che 2016). However, BWM is chosen for this study as it requires less comparison data and provides a more consistent result (Rezaei 2015), which not only reduces the number of pairwise comparisons and inconsistency in such a task (Labella et al 2021) but it also performs better than other multi-attribute decision-making models (Bai 2018.…”

Section: Methodsmentioning

confidence: 99%

Analyzing the barriers for aquaponics adoption using integrated BWM and fuzzy DEMATEL approach in Indian context

Kumar

Bhujel

AniketAggarwal

et al. 2023

Environ Sci Pollut Res

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Aquaponic system in greenhouses which can recycle and reuse the water and nutrients is gaining importance across the world to counter the uncertainties due to weather fluctuations. However, there is a slow pace of growth in aquaculture practices around the globe in general and India in particular. There are many barriers to adopt the aquaponic culture. In this study an analysis of the barriers for aquaponics culture in Indian context during the COVID-19 period is presented. Literature review and interactions with various stakeholders help to find out the list of potential factors while gauging the success of their prospective aquaponics project. The “best-worst” methodology (BWM) is employed for ranking of barriers, whereas categorizing of barriers is carried out with the help of fuzzy DEMATEL. Furthermore, the results of this research work are of great value to corporations or start-up companies looking to invest in this technology as well as to farmers who wish to adopt this farming technique.

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Section: Methodsmentioning

confidence: 99%

Analyzing the barriers for aquaponics adoption using integrated BWM and fuzzy DEMATEL approach in Indian context

Kumar

Bhujel

AniketAggarwal

et al. 2023

Environ Sci Pollut Res

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“…Pemilihan TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) sebagai metode pertama dalam penelitian ini berdasarkan pada fleksibilitas nilai yang bisa diterapkan pada kriteria secara majemuk [8], [9]. Sehingga tiap kriteria dapat diberikan skala yang berbeda.…”

Section: Pendahuluanunclassified

“…TOPSIS yang pertama kali diperkenalkan oleh Hwang dan Yoon pada tahun 1981 [7], [9], memiliki dua nilai penting yakni positive ideal solution dan negative ideal solution yang pada akhirnya dapat menentukan rangking prioritas dari alternatif yang telah ditetapkan sebelumnya.…”

Section: Metode Penelitianunclassified

Prototipe Pendukung Keputusan Pemilihan Saham Jangka Pendek Dengan Kriteria Majemuk

2021

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Perdagangan dalam bursa efek, khususnya Bursa Efek Indonesia (BEI) telah meningkat pesat, terlebih dalam masa pandemi Covid-19. Volume transaksi telah menunjukkan peningkatan yang cukup pesat dan menjadi justifikasi bahwa perdagangan bursa lebih didominasi oleh transaksi saham jangka pendek. Maka kebutuhan analisis pembelian saham jangka pendek menjadi penting agar risiko kerugian trader dapat diminimalkan. Alat bantu analisis memanfaatkan TA yang disederhanakan agar menjadi pendukung keputusan aksi jual beli. Dalam artikel ini, disajikan hasil dengan menggunakan metode TOPSIS berdasarkan fleksibilitas nilai yang bisa diterapkan pada kriteria secara majemuk. Kriteria yang dipilih merupakan hasil dari wawancara dengan dua trader profesional yaitu posisi candlestick di atas garis EMA, lonjakan volume transaksi perdagangan atau spike volume, kondisi uptrend yang secara otomatis menjadi benefit serta likuiditas dari volume perdagangan. Hasil dari implementasi dengan pembuatan prototipe aplikasi berbasis web menunjukkan hasil yang cukup akurat setelah dilakukan backtest pada akhir September 2021. Namun masih perlu dilakukan backtest dengan periode yang berbeda karena anomali dalam bursa saham Indonesia yang seringkali bersifat volatile. Salah satu keunggulan dari prototipe ini adalah kebebasan untuk pemilihan kriteria dan nilai yang dimasukkan oleh pengguna dibandingkan mayoritas bot yang secara kaku menetapkan kriteria berdasarkan indikator TA.

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“…Önder, Taş, and Hepşen (2010) in their study assessed the economic performance model and ranked banks using AHP and TOPSIS methodologies. Esfandiari and Rizvandi (2014) presented an empirical investigation to rank various business development strategies for Information Technology improvement using TOPSIS. Akman and Pjgkjn (2013) proposed a model based on AHP and TOPSIS for evaluating the environmental performance of suppliers and developed a hybrid multicriteria decision-making model.…”

Section: Introductionmentioning

confidence: 99%

Application of Grey-TOPSIS approach to evaluate value chain performance of tea processing chains

Nyaoga¹,

Magutu²,

Wang³

2016

10.5267/j.dsl

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This study develops an effective method to measure value chain performance and rank them based on qualitative criteria and to determine the ranking order of the various forms of performance under study. This approach integrates the advantage of grey systems theory and TOPSIS to evaluate and rank value chain performance. Grey-TOPSIS approach has been applied to measure and rank the value chain performance of various firms. The results indicate that the proposed model is useful to facilitate multi-criteria decision-making (MCDM) problem under the environment of uncertainty and vagueness. The model also provides an appropriate ranking order based on the available alternatives. The Grey-TOPSIS approach that will be useful to the managers to use for solving the similar type of decision-making problems in their firms in the future has been discussed. Even though, the problem of choosing a suitable performance option is often addressed in practice and research, very few studies are available in the literature of Grey-TOPSIS decision models. Also, Grey-TOPSIS model application in the tea processing firms is non-existence hence this study is the very first to apply this model in evaluating value chain performance in the tea processing firms.

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An application of TOPSIS method for ranking different strategic planning methodology

Cited by 16 publications

References 17 publications

Analyzing the barriers for aquaponics adoption using integrated BWM and fuzzy DEMATEL approach in Indian context

Analyzing the barriers for aquaponics adoption using integrated BWM and fuzzy DEMATEL approach in Indian context

Prototipe Pendukung Keputusan Pemilihan Saham Jangka Pendek Dengan Kriteria Majemuk

Application of Grey-TOPSIS approach to evaluate value chain performance of tea processing chains

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