CPT-TODIM method for picture fuzzy multiple attribute group decision making and its application to food enterprise quality credit evaluation

Abstract

With the development of society, people’s living standard is constantly improving. Meanwhile, people need various food to satisfy their needs in daily life. Under this situation, more and more food enterprises are appearing in the market. However, some issues about food safety come out. Because of the huge number of food company, managers are difficult in achieving profitability. Therefore, some of the managers try to use some unhealthy materials to produce food in the society. So, it is important for people to distinguish healthy and unhealthy food enterprises in their daily life. In order to help government discern and control the quality of healthy food enterprises in the market, we need to propose an effective evaluation system in estimating food enterprises. In this paper, we introduce a method of evaluating the quality degree of food enterprises which can help us to distinguish enterprises effectively. As we all know, the method of TODIM is widely used in multiple attribute decision making (MADM). In this article, we describe the extended TODIM which based on the cumulative prospect theory (CPT) with picture fuzzy numbers (PF-CPT-TODIM) and use it to evaluate food companies. What’s more, we use entropy method to decide the weights of various attributes. Finally, we select optimal enterprise by using the PF-CPT-TODIM method. Furthermore, we use the comparison of the results of classical PF-TODIM method and PFWA operators to test the availability of PF-CPT-TODIM. It not only can enrich decision-making methods but also make up for the traditional PF-TODIM method in considering the psychological aspects of decision makers.

Credit Risk Assessment of e-Commerce Supply Chain Finance of SMEs Based on Dynamic Reward and Punishment Perspective

“…For example, Kavčáková and Kočišová [15] used data development analysis in credit risk analysis. Zhang et al [16] and Li [17] used the TOPSIS method, Xiao et al [18] used support vector machine, Dahiya et al [19] used hybridbagging algorithm for credit risk evaluation, Jiang et al [20] applied the CPT-TODIM method, and Chi-Keung Li et al [21] used F-score, but the dynamic nature of the method still needs to be strengthened. To sum up, there are relevant studies on credit evaluation of SMEs.…”

GRA and CRITIC Method for Intuitionistic Fuzzy Multiattribute Group Decision Making and Application to Development Potentiality Evaluation of Cultural and Creative Garden

“…In the future works, the designed model and algorithm could be needful and meaningful to solve other real MAGDM issues, and the designed methods could also be expanded to other uncertain setting [65][66][67][68][69][70][71].…”

A New Group Decision-Making Technique under Picture Fuzzy Soft Expert Information

“…With a different perspective, Sahu et al [13] utilized a hybridized distance measure based on the theories of PFSs and rough sets for the career selection of students. For more important terminologies related to PFSs, the readers may refer to [14][15][16][17][18][19][20][21][22][23].…”