TOPSIS-RTCID for range target-based criteria and interval data

Abstract

<p>The Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is receiving considerable attention as an essential decision analysis technique and becoming a leading method. This paper describes a new version of TOPSIS with interval data and capability to deal with all types of criteria. An improved structure of the TOPSIS is presented to deal with high uncertainty in engineering and engineering decision-making. The proposed Range Target-based Criteria and Interval Data model of TOPSIS (TOPSIS-RTCID) achieves the core contribution in decision making theories through a distinct normalization formula for cost and benefits criteria in scale of point and range target-based values. It is important to notice a very interesting property of the proposed normalization formula being opposite to the usual one. This property can explain why the rank reversal problem is limited. The applicability of the proposed TOPSIS-RTCID method is examined with several empirical litreture’s examples with comparisons, sensitivity analysis, and simulation. The authors have developed a new tool with more efficient, reliable and robust outcomes compared to that from other available tools. The complexity of an engineering design decision problem can be resolved through the development of a well-structured decision making method with multiple attributes. Various decision approches developed for engineering design have neglected elements that should have been taken into account. Through this study, engineering design problems can be resolved with greater reliability and confidence.</p>

A comparison of TOPSIS, grey relational analysis and COPRAS methods for machine selection problem in the food industry of Turkey

“…Apart from the criteria determined in this study, new applications of the methods such as recently proposed Range Target-based Criteria and Interval Data model of TOPSIS(Jahan et al 2021) can be made for machine selection according to different technical features. However, the same technical features can be used by changing the methods used in the study.…”

RSMVC: A new-simple method to select the cutting tool base on multi criteria

“…When the values of the criteria in each alternative are within a value interval, the multi-criteria decision making is often more complex. To solve this problem, a number of special data normalization methods have been proposed, including the method of normalizing the data of a criterion according to the value of that criterion in a certain interval [15,24]. Then, depending on the used MCDM method, these normalized values are used to score the selections in different ways.…”