Enhancing Multi-Criteria Decision-Making with Fuzzy Logic: An Advanced Defining Interrelationships Between Ranked II Method Incorporating Triangular Fuzzy Numbers

Tešić, Duško; Božanić, Darko; Khalilzadeh, Mohammad

doi:10.56578/jimd030105

JIMD

2024

DOI: 10.56578/jimd030105

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Enhancing Multi-Criteria Decision-Making with Fuzzy Logic: An Advanced Defining Interrelationships Between Ranked II Method Incorporating Triangular Fuzzy Numbers

Duško Tešić,

Darko Božanić,

Mohammad Khalilzadeh

Abstract: Enhancing multi-criteria decision-making with fuzzy logic: An advanced defining interrelationships between ranked II method incorporating triangular fuzzy numbers,"

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Cited by 5 publications

References 54 publications

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Innovation in Financial Health Assessment: Applying MCDM Techniques to Banks in Vietnam

Trung,

Dudić,

Dung

et al. 2024

Economics

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Assessing the financial health of banks is crucial to ensure the stability of the financial system. This is not only a way to safeguard the interests of customers and shareholders but also to prevent inherent risks and ensure reliability in banking operations. Thus, evaluating financial health plays a crucial role in maintaining stability and sustainable development in the banking sector. This study employed three methods: RAM (Root Assessment Method), PSI (Preference Selection Index), and SRP (Simple Ranking Process), to assess the financial health of twenty-eight banks in Vietnam. Capital adequacy rating, asset quality rating, management rating, earnings rating, liquidity rating, and sensitivity to market risk rating are the six criteria used to characterize each bank. The evaluation results using these three methods were compared with each other and with the evaluation using the CAMELS rating system. The study identified banks with good financial health and those with weak financial health. The notable point is that the results of ranking financial health of banks using three methods: RAM, PSI, and SRP, and according to the CAMELS system are quite similar. These findings are vital in providing valuable information for managers and investors, aiding them in making informed decisions regarding investment, risk management, and development strategies based on empirical data.

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Innovation in Financial Health Assessment: Applying MCDM Techniques to Banks in Vietnam

Trung,

Dudić,

Dung

et al. 2024

Economics

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Improving Agricultural Sustainability in Bosnia and Herzegovina through Renewable Energy Integration

Puška,

Nedeljković,

Dudić

et al. 2024

Economies

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With the development of agricultural production, the demand for electricity correspondingly increases. To sustainably meet this demand, renewable energy sources (RESs) can be utilized. This paper explores the application of RES alternatives in agriculture to provide guidelines for enhancing sustainable agricultural practices in Bosnia and Herzegovina. The study employs expert decision making using fuzzy multi-criteria decision-making (MCDM) methods. A decision-making model incorporating nine criteria and six alternatives was developed. Using the direct weight calculation (DiWeC) approach, the findings indicate that economic criteria are prioritized over other sustainability criteria. The results from the fuzzy RAWEC (ranking of alternatives with weights of criteria) method reveal that solar energy has the greatest potential for advancing sustainable agricultural production in Bosnia and Herzegovina. For practical implementation of RES alternatives, active involvement from state institutions and local communities is essential.

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Evaluation and prioritization of barriers to the implementation of the eco-regenerative supply chains using fuzzy ZE-numbers framework in group decision-making

Salteh,

Fazayeli,

Ghoushchi

2024

AIMSES

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<p>In today's supply chain management, there is a growing emphasis on transitioning to environmentally sustainable practices. This paper aimed to identify and rank the barriers to the implementation of eco-regenerative supply chains. A novel integrated approach was proposed based on stepwise weighted assessment ratio analysis (SWARA) and the multi-attributive border approximation area (MABAC) method using ZE-fuzzy numbers. This approach aimed to address some of the limitations of the failure mode and effects analysis (FMEA) method, including lack of thorough prioritization and inability to make decisions about the importance of various failure factors in an uncertain environment. By combining fuzzy sets and considering the reliability levels of two distinct groups of decision-makers and experts, this proposed method offers a comprehensive evaluation framework. Following the determination of the risk priority number (RPN) by the FMEA method, risk factors were evaluated using ZE-SWARA, and barriers were ranked using the ZE-MABAC method to identify critical barriers and propose corrective actions. Furthermore, sensitivity analysis was conducted in this study to demonstrate the viability of the proposed method. This research contributes to the advancement of eco-regenerative supply chain management practices by offering a systematic and innovative approach to addressing environmental concerns and improving decision-making processes in uncertain environments.</p>

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Enhancing Multi-Criteria Decision-Making with Fuzzy Logic: An Advanced Defining Interrelationships Between Ranked II Method Incorporating Triangular Fuzzy Numbers

Abstract: Enhancing multi-criteria decision-making with fuzzy logic: An advanced defining interrelationships between ranked II method incorporating triangular fuzzy numbers,"

Cited by 5 publications

References 54 publications

Innovation in Financial Health Assessment: Applying MCDM Techniques to Banks in Vietnam

Innovation in Financial Health Assessment: Applying MCDM Techniques to Banks in Vietnam

Improving Agricultural Sustainability in Bosnia and Herzegovina through Renewable Energy Integration

Evaluation and prioritization of barriers to the implementation of the eco-regenerative supply chains using fuzzy ZE-numbers framework in group decision-making

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