TODIM Approach for Selection of Inventory Policy in Supply Chain

Abstract

TODIM-based multicriteria decision-making approach for assessing inventory policy in a Pythagorean fuzzy environment is proposed in this study. In supply chain, inventory appears in several forms. For effective supply chain, management businesses must choose an effective inventory policy. It is difficult to rank inventory policies. Inventory policy selection and evaluation include a procedure that can be thought about, checked after some time, and ideally improved through certain measures. Determination of the right inventory control policy is a challenge in the dynamic business environment as it enables organizations to gain an upper hand in terms of cost, quality, and service, which in turn provides a vital step in fulfilling the requirements of the customer. The multicriteria question has qualitative and quantitative factors that are vague and contradictory. Such variables are not necessarily clear and often suffer vagueness owing to the inconsistent existence of the gathered data. In the Pythagorean fuzzy setting, they are therefore considered to eliminate this vagueness by assigning membership and nonmembership roles to these factors. Finally, in this article, we performed a sensitivity analysis to demonstrate the stability of our model and to illustrate the utility of implementing such algorithms.

A fuzzy Pythagorean TODIM method for sustainable ABC analysis in inventory management

“…MCDM techniques mentioned in the literature have unique advantages and disadvantages for specific applications. If the TODIM method was applied to inventory management, the results would conform to that of the decision-maker (Kaur et al 2022). The ABC analysis, which considers only one criterion, compromises economic development.…”

“…PFs represent a more flexible version of traditional fuzzy sets that allows an element to have varying degrees of membership to a set. In this kind of fuzzy set, the degree of membership is represented by a pair of real numbers, (a, b), where a and b are the membership and non-membership degrees, respectively, as shown in equation 2 (Kaur et al, 2022).…”

“…Step 1: Design a Pythagorean decision fuzzy matrix Rij= rij(m×n), here rij (Kaur et al, 2022) represents Pythagorean Fuzzy Number using equation 3. Using Pythagorean fuzzy set theory, the original data in Pythagorean Fuzzy TODIM are transformed throughout the normalization process into a fuzzy membership function.…”

A Novel MCGDM Model on Dynamic COVID-waves Analysis in Indiaunder Linguistic Neutrosophic Environment

“…MADM technique is also executed in 2-tuple linguistic Pythagorean fuzzy domain (Zhang et al (2021)) with the utilization of TODIM. Recently, Kaur et al (2022) has also applied TODIM strategy in inventory management. Moreover, dynamic MCDM method have been utilised by several researchers where the nature of impreciseness changes over time and situation.…”

Salgın sırasındaki elektronik ürün alımlarında karşılaştırmalı bir karar verme

“…TODIM method can be considered as an optimal method when a decision-making problem includes risk factors or when decision makers have different opinions while assessing the variables. TODIM method is applied to various real-life problems such as personnel selection (Ji et al, 2018), portfolio allocation (Alali & Tolga, 2019;Wu et al, 2022), supply chain (Abdel-Basset et al, 2020;Du et al, 2020;Kaur et al, 2022;Köseoğlu, 2022;Köseoğlu et al, 2020), and most commonly the risk management problems (Junaid et al, 2020;Mathew et al, 2020;Ortiz-Barrios et al, 2020;Wang et al, 2021).…”