Preference Selection Index Approach as MADM Method for Ranking of FMS Flexibility

Jain, Vineet; Iqbal, Mohmad; Madan, Ashok Kumar

doi:10.1007/978-981-15-8542-5_46

Cited by 7 publications

(3 citation statements)

References 23 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The DEMATEL approach not only converts interdependency associations into a cause-effect cluster using equations but also discovers the critical obstacles of an intricate system of obstacles with the help of an impact association map [64]. Scholars can better use the DEMATEL approach determining the causal interrelationships among the obstacles from within the framework of an issue and explain their conceptual interrelationships, compared with other modeling methods such as ANP, TISM, and GTMA [70]. The steps of the DEMATEL analysis process are presented in Figure 2.…”

Section: Dematelmentioning

confidence: 99%

Interrelationship among CE Adoption Obstacles of Supply Chain in the Textile Sector: Based on the DEMATEL-ISM Approach

Chen

Lin

2021

Mathematics

View full text Add to dashboard Cite

Globally, in the innovative and distributional circular textiles, the textile sector of Taiwan has a prominent place. Within the textile industry, the circular economy (CE) obstacles adopted have been studied by several scholars. However, the interrelationships among these obstacles are easily ignored. The present study aimed to identify CE adoption obstacles from the supply chain (SC) perspective in Taiwan’s textile sector by analyzing the interrelationships among the CE adoption obstacles and establishing a hierarchical network and the causal inter relationships of the identified obstacles. Furthermore, the CE adoption obstacles and interrelationships were analyzed using interpretative structural modeling and the decision-making trial and evaluation laboratory (ISM-DEMATEL). The common results of the two methods demonstrated that two obstacles, consumers not having sufficient knowledge and awareness of reuse/recycling (B1) and a lack of successful business models and frameworks for CE implementation (B3), were the significant obstacles influencing adopting CE in the textile supply chain, while the obstacle making the most efficient way (B12) of the right decision to implement CE was minor. Thus, the government should formulate friendly laws and regulations that encourage CE adoption, while textile firms should monitor and control recycling and efficiency approaches handling the CE adoption problems. Our results could offer first-hand knowledge to textile firms or managers to effetely achieve CE implementation objectives.

show abstract

Section: Dematelmentioning

confidence: 99%

Interrelationship among CE Adoption Obstacles of Supply Chain in the Textile Sector: Based on the DEMATEL-ISM Approach

Chen

Lin

2021

Mathematics

View full text Add to dashboard Cite

show abstract

“…Emerging as one of the simple multi-criteria decisionmaking (MCDM) tools, the Preference Selection Index (PSI) is presented to aid decision-maker that has been applied to many application areas. Among those are concerning on selecting the best plant layout as reported by Sharma and Singhal (2016), determining the best parameters of solar in the work of Nadda et al (2018), manufacturing process optimization decision-Supply chain sustainability risk making by Parizi et al (2017), ranking best composition of composite material as exemplified by Kumar and Kumar (2020), selecting mining contractor by Borujeni and Gitinayard (2017), selecting the best water treatment technologies by Obeidat et al (2021) and ranking of flexibility in flexible manufacturing system (FMS) by Jain et al (2021). Despite its simplicity which is potentially beneficial to SME practitioners, empirical studies in adopting it for supply chain sustainability risk assessment in SME environment are missing in the past references.…”

Section: Introductionmentioning

confidence: 99%

“…(2017), ranking best composition of composite material as exemplified by Kumar and Kumar (2020), selecting mining contractor by Borujeni and Gitinayard (2017), selecting the best water treatment technologies by Obeidat et al. (2021) and ranking of flexibility in flexible manufacturing system (FMS) by Jain et al. (2021).…”

Section: Introductionmentioning

confidence: 99%

Supply chain sustainability risk decision support model using integrated Preference Selection Index (PSI) method and prospect theory

Sutrisno

Kumar

2022

JAMR

View full text Add to dashboard Cite

PurposeThe purpose of this paper is to introduce the integrated model of the Preference Selection Index (PSI) and the prospect theory as new means to appraise the impact of supply chain sustainability risks based on five pillars of sustainability. Research has shown that sustainability risk assessment has a strong positive impact on improving the performance of enterprises.Design/methodology/approachThis study adopts a new decision support model for assessing supply chain sustainability risk based on additional failure mode and effect analysis parameters and its integration with PSI methodology and prospect theory. A case example of the supply chain small and medium enterprise (SME) producing fashion have been used in this study.FindingsThe result of this study reveals some critical supply chain sustainability risks affecting the sustainability of enterprises under study.Research limitations/implicationsThe use of a limited sample is often associated as a limitation in the research studies and this study is based on findings from SMEs in the fashion retail supply chain. This preliminary study provides academics and practitioners an exemplar of supply chain sustainability risk assessment using integration of the PSI method and prospect theory.Practical implicationsThe result of this study is beneficial for practitioners, particularly owner–managers of SMEs who can use this study as guidance on how to consider risk behavior to identify and select the critical sustainability risks and plan mitigating strategies accordingly.Originality/valueScientific studies on using the PSI and its integration with prospect theory as means to assess the criticality of supply chain sustainability risks is very rare. To the best of the authors’ knowledge, this is the first paper that presents the integrated model of the PSI and prospect theory to rank supply chain sustainability risks based on five pillars of sustainability.

show abstract

Vibration and acoustic signal-based bearing fault diagnosis in CNC machine using an improved deep learning

Iqbal,

Madan,

Ahmad

2024

Iran J Comput Sci

View full text Add to dashboard Cite

Preference Selection Index Approach as MADM Method for Ranking of FMS Flexibility

Cited by 7 publications

References 23 publications

Interrelationship among CE Adoption Obstacles of Supply Chain in the Textile Sector: Based on the DEMATEL-ISM Approach

Interrelationship among CE Adoption Obstacles of Supply Chain in the Textile Sector: Based on the DEMATEL-ISM Approach

Supply chain sustainability risk decision support model using integrated Preference Selection Index (PSI) method and prospect theory

Vibration and acoustic signal-based bearing fault diagnosis in CNC machine using an improved deep learning

Contact Info

Product

Resources

About