INVESTMENT PROJECT SELECTION BY APPLYING COPRAS METHOD AND IMPRECISE DATA

Investment projects can have a significant impact on the functioning and development of acompany. Therefore, the selection of one or more investment projects from the set of possible is animportant and difficult task for decision makers. This paper considers the investment projectsselection based on financial analysis criteria and use of imprecise data. In the proposed model, thealternative projects performances are expressed using crisp and interval values, and then the bestproject from the available is selected by using COPRAS and COPRAS-G methods. A numericalexample is given to demonstrate the applicability and effectiveness of the proposed approach

Creative trans-border cooperation in the field of operations research and sustainable development in civil engineering

The paper presents an overview of the history and achievements of trans-border cooperation in the Lithuania-Germany-Poland triangle in planning instruments in Construction Management, decision-making theory, application of Operational Research, and Multiple Criteria Decision Making (MCDM) methods in Civil Engineering and sustainable development. The cooperation and results of the Colloquiums with 35 years of tradition, their multidimensional nature is underlined. The research instruments, methods, studied phenomena are reviewed and characteristic applications in engineering and economics are presented. The knowledge and combined efforts of three academic centers have created a synergy which set in motion many original methods and spectacular implementations. The Colloquium calendar and the evolution of organizational forms are presented along with the inclusion of the informal EURO Working Group on Operations Research in Sustainable Development and Civil Engineering

EfFcient mcdm model for evaluating the performance of commercial banks:A case study

Evaluation of commercial banks (CBs) performance has been a significant issue in the financial world and deemed as a multi-criteria decision making (MCDM) model. Numerous research assesses CB performance according to different metrics and standers. As a result of uncertainty in decision-making problems and large economic variations in Egypt, this research proposes a plithogenic based model to evaluate Egyptian commercial banks' performance based on a set of criteria. The proposed model evaluates the top ten Egyptian commercial banks based on three main metrics including financial, customer satisfaction, and qualitative evaluation, and 19 subcriteria. The proportional importance of the selected criteria is evaluated by the Analytic Hierarchy Process (AHP). Furthermore, the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), Vlse Kriterijumska Optimizacija Kompro-misno Resenje (VIKOR), and COmplex PRoportional ASsessment (COPRAS) are adopted to rank the top ten Egyptian banks based on their performance, comparatively. The main role of this research is to apply the proposed integrated MCDM framework under the plithogenic environment to measure the performance of the CBs under uncertainty. All results show that CIB has the best performance while Faisal Islamic Bank and Bank Audi have the least performance among the top 10 CBs in Egypt.</p

Sustainable and agile manufacturing outsourcing partner selection: a literature review

[EN] Outsourcing to third party to manage non-core activities helps the firm to focus on core activities. Manufacturing firms are outsourcing product development, manufacturing, logistics, customer care etc. to enhance production capacity and flexibility, and to reduce operational costs, which in turn can improve profitability and competitive advantage of the enterprise. Sustainability in operations and supply chain is gaining momentum due to increased global environmental concern, pressures from consumers and communities, and enforced regulations. Volatile and uncertain business environment necessitates the adoption of agility and flexibility to effectively manage manufacturing and supply chain. Globalisation has made the market very competitive and hence manufacturing firms are adopting manufacturing outsourcing to third parties. Selecting a sustainable and agile manufacturing outsourcing partner (MPS) is crucial as it will improve sustainability, efficiency, and effectiveness of the supply chain and competitive advantage to the firm. Detailed literature review on sustainable and agile manufacturing outsourcing partner selection has been carried out from EBSCO data base and Goggle scholar. Selection criteria used are classified into agile, operational, economic, environmental and social. The techniques use are mostly multi criteria decision making methods (MCDM) while few have adopted programming techniques. Discussion, implication and the scope of future work is also provided.Akhtar, M. (2022). Sustainable and agile manufacturing outsourcing partner selection: a literature review. International Journal of Production Management and Engineering. 10(2):143-158. https://doi.org/10.4995/ijpme.2022.1680714315810

An integrated approach of fuzzy linguistic preference based AHP and fuzzy COPRAS for machine tool evaluation

Globalization of business and competitiveness in manufacturing has forced companies to improve their manufacturing facilities to respond to market requirements. Machine tool evaluation involves an essential decision using imprecise and vague information, and plays a major role to improve the productivity and flexibility in manufacturing. The aim of this study is to present an integrated approach for decision-making in machine tool selection. This paper is focused on the integration of a consistent fuzzy AHP (Analytic Hierarchy Process) and a fuzzy COmplex PRoportional ASsessment (COPRAS) for multi-attribute decision-making in selecting the most suitable machine tool. In this method, the fuzzy linguistic reference relation is integrated into AHP to handle the imprecise and vague information, and to simplify the data collection for the pair-wise comparison matrix of the AHP which determines the weights of attributes. The output of the fuzzy AHP is imported into the fuzzy COPRAS method for ranking alternatives through the closeness coefficient. Presentation of the proposed model application is provided by a numerical example based on the collection of data by questionnaire and from the literature. The results highlight the integration of the improved fuzzy AHP and the fuzzy COPRAS as a precise tool and provide effective multi-attribute decision-making for evaluating the machine tool in the uncertain environment

A NEW INTEGRATED GREY MCDM MODEL: CASE OF WAREHOUSE LOCATION SELECTION

Warehouses link suppliers and customers throughout the entire supply chain. The location of the warehouse has a significant impact on the logistics process. Even though all other warehouse activities are successful, if the product dispatched from the warehouse fails to meet the customer needs in time, the company may face with the risk of losing customers. This affects the performance of the whole supply chain therefore the choice of warehouse location is an important decision problem. This problem is a multi-criteria decision-making (MCDM) problem since it involves many criteria and alternatives in the selection process. This study proposes an integrated grey MCDM model including grey preference selection index (GPSI) and grey proximity indexed value (GPIV) to determine the most appropriate warehouse location for a supermarket. This study aims to make three contributions to the literature. PSI and PIV methods combined with grey theory will be introduced for the first time in the literature. In addition, GPSI and GPIV methods will be combined and used to select the best warehouse location. In this study, the performances of five warehouse location alternatives were assessed with twelve criteria. Location 4 is found as the best alternative in GPIV. The GPIV results were compared with other grey MCDM methods, and it was found that GPIV method is reliable. It has been determined from the sensitivity analysis that the change in criteria weights causes a change in the ranking of the locations therefore GPIV method was found to be sensitive to the change in criteria weights

Comparative Analysis Saw – Moosra Methods of Fighter Spare Parts Supplier Evaluation

Krusialnya pemilihan vendor atau supplier dalam situasi Force Majeur merupakan prosedur yang sulit karena beberapa variabel harus diperiksa selama proses pengambilan keputusan. Pengambilan keputusan yang buruk akan memiliki efek yang lebih besar pada bisnis karena menjadi lebih bergantung pada pemasoknya. Risiko terkait vendor harus dikurangi pada awal fungsi pengadaan dengan menghilangkan vendor yang tidak dapat diandalkan dan berisiko. Koordinasi antara supplier dan vendor sering kali merupakan mata rantai yang sulit dan kritis dalam rantai pasokan. Manajemen Resiko dalam mengevaluasi atau penentuan vendor dengan analisis keputusan untuk pengadaan spare parts pesawat terbang type Sukhoi sangatlah penting untuk dipertimbangkan karena Hanya vendor tertentu yang memiliki akses langsung terhadap pemasok maupun manufacture yang dapat provide spare parts pesawat type Sukhoi tersebut.Fokus pada makalah ini adalah bagaimana merancang model yang diusulkan dalam pemilihan vendor yang optimal dengan minim risiko dengan memperhatikan kebutuhan End User yang sesuai dengan hasil penyebaran kuesioner dari 10 pertanyaan kepada 7responden sebagai Expertise. Multi Criteria Decisions Making Method (MCDM) yang digunakan adalah Integrasi AHP – Superdecisions, Komparasi metode SAW dan MOOSRA. MCDM membantu kami dalam identifikasi factor resiko dan evaluasi pemilihan vendor dalam pemenuhan pengadaan spare parts Sukhoi ini dengan mempertimbangkan faktor-faktor seperti Vendor Experience in Collaboration ,Fast Response,Vendor Origin, Lead Time,Suitability of Goods, Price, Payment Methods,Delivery.&nbsp; Hasil menunjukkan bahwa Vendor Alternatif A1 yaitu Vendor Rusia&nbsp; direkomendasikan sebagai pilihan utama dengan mempertimbangkan factor resiko minimal dari kriteria yang teridentifikasi. Rekomendasi vendor yang kedua dan seterusnya adalah&nbsp; A2 atau A3-A4-A

A review of application of multi-criteria decision making methods in construction

Construction is an area of study wherein making decisions adequately can mean the difference between success and failure. Moreover, most of the activities belonging to this sector involve taking into account a large number of conflicting aspects, which hinders their management as a whole. Multi-criteria decision making analysis arose to model complex problems like these. This paper reviews the application of 22 different methods belonging to this discipline in various areas of the construction industry clustered in 11 categories. The most significant methods are briefly discussed, pointing out their principal strengths and limitations. Furthermore, the data gathered while performing the paper are statistically analysed to identify different trends concerning the use of these techniques. The review shows their usefulness in characterizing very different decision making environments, highlighting the reliability acquired by the most pragmatic and widespread methods and the emergent tendency to use some of them in combination

Multi-criteria decision making in civil engineering. Part II – applications

The first part of the paper shortly presented developments of multi-criteria decision making (MCDM) methods and general data about their use in civil engineering, i.e. distribution by years, countries, authors and journals (Zavadskas et al. 2015). The current part of the paper focuses on MCDM application areas and domains. Web of Science Category “Engineering Civil” in Thomson Reuters Web of Science Core Collection academic data base is searched for a topic of MCDM. Only articles and review document types are selected for a detailed survey. They are grouped by Research Areas as presented in Web of Science data base. The most numerous research areas as Construction Building Technology, Transportation, Water Resources and Engineering (other topics) are analysed in detail. Research domains and solved problems are described as well as applied MCDM methods are highlighted. A total of 114 articles are reviewed, showing a wide possibilities of applying MCDM methods for civil engineering problems