Evaluating Alternatives through the Application of Topsis Method with Entropy Weight

Elsayed, Elsayed Ahmed; Khadar, Shaik Dawood Abdul; yan, Karthike

doi:10.14445/22315381/ijett-v46p211

Cited by 27 publications

(19 citation statements)

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“…The same model, but in fuzzy form [17], was applied for the evaluation of 12 banks in the territory of Serbia, including 19 evaluation parameters. The combination of entropy and TOPSIS methods was used in [18] to perform the evaluation of 12 banks based on five criteria: growth rate, number of branches, numbers of ATM, net income, and lending. Beheshtinia and Omidi [19] applied (AHP) and modified digital logic (MDL) tools for determining the weight values of 23 criteria, while fuzzy TOPSIS and fuzzy VIKOR methods were implemented in the evaluation process of four banks in Iran.…”

Section: Literature Reviewmentioning

confidence: 99%

“…n is the total number of criteria exiting the model and m is the total number of criteria remaining in the model. In order to obtain the values of the 12 criteria that are equally represented in the hierarchical structure (Figure 3), the values of the criteria exiting the model are equally distributed to the criteria that remain in the model by applying Equation (18). Since the efficiency group and profitability group have per three sub-criteria from the beginning, they have been unchanged.…”

Section: The Influence Of Hierarchical Structure On Determining the Vmentioning

confidence: 99%

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A Novel Integrated Subjective-Objective MCDM Model for Alternative Ranking in Order to Achieve Business Excellence and Sustainability

Marković

Stajić²,

Stević

et al. 2020

Symmetry

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Achieving sustainability in constant development in every area in today’s modern business has become a challenge on the one hand, and an imperative on the other. If the aspect of business excellence achievement is also added to it, the complexity of the system increases significantly, and it is necessary to model a system considering several parameters and satisfying the multi-criteria function. This paper develops a novel integrated model that involves the application of a subjective-objective model in order to achieve business sustainability and excellence. The model consists of fuzzy PIPRECIA (fuzzy pivot pairwise relative criteria importance Assessment) as a subjective method, CRITIC (criteria importance through intercriteria correlation) and I-distance method as objective methods. The goal is to take the advantages of these approaches and allow for more accurate and balanced (symmetric) decision-making through their integration. The integrated subjective-objective model has been applied in a narrow geographical area to consider and evaluate banks as a significant factor in improving the social aspect of sustainability. An additional contribution of the paper is a critical overview of multi-criteria problems in which the levels of the hierarchical structure contain a different (asymmetric) number of elements. A specific example has also been used to prove that only a hierarchical structure with an equal number of lower-level elements provides precise weights of criteria in accordance with the preferences of decision-makers referring to subjective models. The results obtained are verified throughout the calculation of Spearman and Pearson correlation coefficients, and throughout a sensitivity analysis involving a dynamic reverse rank matrix.

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Section: Literature Reviewmentioning

confidence: 99%

Section: The Influence Of Hierarchical Structure On Determining the Vmentioning

confidence: 99%

A Novel Integrated Subjective-Objective MCDM Model for Alternative Ranking in Order to Achieve Business Excellence and Sustainability

Marković

Stajić²,

Stević

et al. 2020

Symmetry

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“…Alike plants, constraint (21) is an inventory control and material flow balance constraint for a distribution center in each period. Constraint (22) expresses that an alliance among the plants of the agile SCN will be created via determining the active plants. Constraint (23) quarantines that each possible alliance will occur among opened facilities in production echelon of the SC.…”

Section: Constraintsmentioning

confidence: 99%

“…Constraint (23) quarantines that each possible alliance will occur among opened facilities in production echelon of the SC. Constraints (24) and (25) are the same as constraints (22) and (23) to address the alliance creation between opened distribution centers. Constraints (26) and (27) express the required conditions for the creation of an alliance between the plants and distribution centers in different echelons.…”

Section: Constraintsmentioning

confidence: 99%

“…Later many interesting and through efforts have been done in this area, interested readers may refer to (Chai et al, 2013; Razmi and Sabbaghnia, 2015; Kannan, 2018; Mukherjee, 2017) [12,56,41,45]. A strong statistical tool to point out the important criteria in ranking the suppliers is PCA (Elsayed et al, 2017) [22]. This approach has been applied in many different areas (Fargani et al, 2017) [23] and here, it is applied to rank the possible suppliers of the considered SC.…”

mentioning

confidence: 99%

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An integrated Principal Component Analysis and multi-objective mathematical programming approach to agile supply chain network design under uncertainty

Moradi¹,

Razmi²,

Babazadeh³

et al. 2019

Journal of Industrial &Amp; Management Optimization

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The design of agile supply chain networks has attracted more attention in recent years according to the competitive business environment. Further, due to high degree of uncertainty in agile supply chains (SCs), developing robust and efficient decision making tools are of interest. In this study, an integrated approach based on principal component analysis (PCA) and multiobjective possibilistic mixed integer programming (MOPMIP) approaches is proposed to optimally design agile supply chain network under uncertainty. The PCA method is used for ranking and filtering the suppliers, constituting the first layer of the supply chain, based on agility criteria. The proposed MOPMIP model is employed to construct the agile supply chain network under uncertainty. In the proposed MOPMIP model, three objective functions including 1) total costs minimization, 2) total delivery time minimization and 3) maximization of flexibility are considered. An interactive fuzzy solution approach is used to solve the proposed MOPMILP model. Two numerical examples, is conducted to evaluate the performance and efficiency of the proposed integrated approach for agile supply chain network design under uncertainty.

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Data Analysis on the Performance of Technology Sector in Malaysia with Entropy-TOPSIS Model

Siew

Hoe

Fai

2018

Communications in Computer and Information Science

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Evaluating Alternatives through the Application of Topsis Method with Entropy Weight

Cited by 27 publications

References 0 publications

A Novel Integrated Subjective-Objective MCDM Model for Alternative Ranking in Order to Achieve Business Excellence and Sustainability

A Novel Integrated Subjective-Objective MCDM Model for Alternative Ranking in Order to Achieve Business Excellence and Sustainability

An integrated Principal Component Analysis and multi-objective mathematical programming approach to agile supply chain network design under uncertainty

Data Analysis on the Performance of Technology Sector in Malaysia with Entropy-TOPSIS Model

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