Multi-criteria decision model for risk prioritisation involving multiple decision-makers: an application of composition of probabilistic preferences combined with FMEA in the supply chain

Casado, Ramon Swell Gomes Rodrigues; Silva, Maísa Mendonça; Silva, Lúcio Câmara e

doi:10.1108/ijqrm-03-2020-0065

Cited by 4 publications

(3 citation statements)

References 45 publications

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“…They are cost/benefit analysis, business impact analysis, scenario analysis, environmental risk assessment, FMEA, and analysis of cause and consequence. FMEA is a widely accepted risk analysis framework among all these methodologies due to its viability and applicability (Casado et al, 2023;Gupta and Mishra, 2017). It has been widely practiced to evaluate a system or product's potential failure modes, identify their root-causes and effects, and confirm the prioritization of losses that follow (Fattahi et al, 2020;Adar et al, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

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Supply chain risk prioritization: a multi-criteria based Intuitionistic Fuzzy TOPSIS approach

Mukherjee,

De,

Roy

2024

IJQRM

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Purpose Identifying and prioritizing supply chain risk is significant from any product’s quality and reliability perspective. Under an input-process-output workflow, conventional risk prioritization uses a risk priority number (RPN) aligned to the risk analysis. Imprecise information coupled with a lack of dealing with hesitancy margins enlarges the scope, leading to improper assessment of risks. This significantly affects monitoring quality and performance. Against the backdrop, a methodology that identifies and prioritizes the operational supply chain risk factors signifies better risk assessment.Design/methodology/approach The study proposes a multi-criteria model for risk prioritization involving multiple decision-makers (DMs). The methodology offers a robust, hybrid system based on the Intuitionistic Fuzzy (IF) Set merged with the “Technique for Order Performance by Similarity to Ideal Solution.” The nature of the model is robust. The same is shown by applying fuzzy concepts under multi-criteria decision-making (MCDM) to prioritize the identified business risks for better assessment.Findings The proposed IF Technique for Order Preference by Similarity to the Ideal Solution (TOPSIS) for risk prioritization model can improve the decisions within organizations that make up the chains, thus guaranteeing a “better quality in risk management.” Establishing an efficient representation of uncertain information related to traditional failure mode and effects analysis (FMEA) treatment involving multiple DMs means identifying potential risks in advance and providing better supply chain control.Research limitations/implications In a company’s supply chain, blockchain allows data storage and transparent transmission of flows with traceability, privacy, security and transparency (Roy et al., 2022). They asserted that blockchain technology has great potential for traceability. Since risk assessment in supply chain operations can be treated as a traceability problem, further research is needed to use blockchain technologies. Lastly, issues like risk will be better assessed if predicted well; further research demands the suitability of applying predictive analysis on risk.Practical implications The study proposes a hybrid framework based on the generic risk assessment and MCDM methodologies under a fuzzy environment system. By this, the authors try to address the supply chain risk assessment and mitigation framework better than the conventional one. To the best of their knowledge, no study is found in existing literature attempting to explore the efficacy of the proposed hybrid approach over the traditional RPN system in prime sectors like steel (with production planning data). The validation experiment indicates the effectiveness of the results obtained from the proposed IF TOPSIS Approach to Risk Prioritization methodology is more practical and resembles the actual scenario compared to those obtained using the traditional RPN system (Kim et al., 2018; Kumar et al., 2018).Originality/value This study provides mathematical models to simulate the supply chain risk assessment, thus helping the manufacturer rank the risk level. In the end, the authors apply this model in a big-sized organization to validate its accuracy. The authors validate the proposed approach to an integrated steel plant impacting the production planning process. The model’s outcome substantially adds value to the current risk assessment and prioritization, significantly affecting better risk management quality.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Supply chain risk prioritization: a multi-criteria based Intuitionistic Fuzzy TOPSIS approach

Mukherjee,

De,

Roy

2024

IJQRM

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“…all kinds of corrections, and new solutions) that will contribute to the effective elimination of sources of defects. The most important benefits related to the implementation of the FMEA analysis include (Casado et al, 2023;Velasquez & Lara, 2017):…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of the types and effects of possible errors in the implementation of ecological reusable packaging into e-commerce using FMEA

Tokarski,

Motowidlak

2023

EiS

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One of the most important features of the e-commerce logistics process is its reliability. It is obtained by properly planning the process and then ensuring its course is in accordance with the developed plan and all procedures. As the data show, most problems appear at the stage of designing and preparing products and processes for implementation. Detecting potential causes of non-compliance can help prevent unwanted events from occurring. The aim of the article is to identify and assess the risk for the process and product in terms of the possibility of using reusable packaging in e-commerce logistics services provided by ARVATO Polska Sp. z o. o. with its registered office in Warsaw, taking into account preventive and corrective actions in relation to the risk. Through the use of research methodology in the form of risk mapping, 13 potential risk factors were identified, and recommendations were formulated to avoid and mitigate the effects of disruptions. Among the identified risk factors, the quality of the packaging itself, including the appropriate packaging material and the level of packaging flexibility, turned out to be the most important. The conclusions of the study may have practical applications to improve the functioning of cost-effective and environmentally friendly e-commerce logistics. The importance of these analyses increases in the assessment of innovative solutions that can be considered as the use of ecological returnable packaging in e-commerce logistics. Their goal is to identify and eliminate possible packaging failures on the market.

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The adoption of new technologies for sustainable risk management in logistics planning: A sequential dynamic approach

Yousefi

Tosarkani

2022

Computers & Industrial Engineering

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Multi-criteria decision model for risk prioritisation involving multiple decision-makers: an application of composition of probabilistic preferences combined with FMEA in the supply chain

Cited by 4 publications

References 45 publications

Supply chain risk prioritization: a multi-criteria based Intuitionistic Fuzzy TOPSIS approach

Supply chain risk prioritization: a multi-criteria based Intuitionistic Fuzzy TOPSIS approach

Analysis of the types and effects of possible errors in the implementation of ecological reusable packaging into e-commerce using FMEA

The adoption of new technologies for sustainable risk management in logistics planning: A sequential dynamic approach

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