A review of multi-criteria decision making methods for enhanced maintenance delivery

Conventionally there is a strong relation between manufacturing and services in complex engineering industries. For companies which aim to last in the competitive manufacturing market choosing appropriate decision making methods to improve their maintenance delivery has a vital role. The aim of this paper is to review Multi Criteria Decision Making (MCDM) models, evaluate each method and do a critical comparison to assess them from a maintenance management point of view. The first section of this paper reviews MCDM methods in different literature, and then the second part develops a set of criteria to classify different techniques. At the end methods are compared based on developed criteria. This paper assesses different MCDM models, and provides a framework to select approaches for maintenance management

Deriving consensus rankings via multicriteria decision making methodology

Purpose - This paper seeks to take a cautionary stance to the impact of the marketing mix on customer satisfaction, via a case study deriving consensus rankings for benchmarking on selected retail stores in Malaysia. Design/methodology/approach - The ELECTRE I model is used in deriving consensus rankings via multicriteria decision making method for benchmarking base on the marketing mix model 4P's. Descriptive analysis is used to analyze best practice among the four marketing tactics. Findings - Outranking methods in consequence constitute a strong base on which to found the entire structure of the behavioral theory of benchmarking applied to development of marketing strategy. Research limitations/implications - This study looks only at a limited part of the puzzle of how consumer satisfaction translates into behavioral outcomes. Practical implications - The study provides managers with guidance on how to generate a rough outline of potential marketing activities that can be used to take advantage of capabilities and convert weaknesses and threats. Originality/value - The paper interestingly portrays the effective usage of multicriteria decision-making and ranking method to help marketing managers predict their marketing trends

MULTI CRITERIA DECISION MAKING MODELS: AN OVERVIEW ON ELECTRE METHODS

In portfolio analysis, there are a few models that can be used. Therefore, the aim of this paper is to make an overview on multi criteria decision making models, in particular, on ELECTRE methods. We discuss the different versions of ELECTRE, which exist and why they exist. So, when speaking about ELECTRE methods structure, we have to consider two main procedures: construction of one or several outranking relation(s) procedure, and exploitation procedure. In the exploitation procedure, recommendations are elaborated from the results obtained in the first phase. The nature of the recommendation depends on the problematic: choosing, ranking or sorting. Each method is characterized by its construction and exploitation procedure. For choice problem, we can apply ELECTRE I, ELECTRE Iv, and ELECTRE IS; for ranking problem, we can apply ELECTRE II, ELECTRE III, ELECTRE IV and ELECTRE-SS; and for sorting problem we can apply ELECTRE TRI. Finally, some failings on ELECTRE methods assumptions are discussed, for instance, rank reversals. So, when analyzing portfolio management decision problem, the literature suggests AHP method and PROMETHEE family.CAPM; decision problem; multi criteria decision making models; ELECTRE family; ELECTRE rank reversals

A Methodology for the Selection of Multi-Criteria Decision Analysis Methods in Real Estate and Land Management Processes

Real estate and land management are characterised by a complex, elaborate combination of technical, regulatory and governmental factors. In Europe, Public Administrators must address the complex decision-making problems that need to be resolved, while also acting in consideration of the expectations of the different stakeholders involved in settlement transformation. In complex situations (e.g., with different aspects to be considered and multilevel actors involved), decision-making processes are often used to solve multidisciplinary and multidimensional analyses, which support the choices of those who are making the decision. Multi-Criteria Decision Analysis (MCDA) methods are included among the examination and evaluation techniques considered useful by the European Community. Such analyses and techniques are performed using methods, which aim to reach a synthesis of the various forms of input data needed to define decision-making problems of a similar complexity. Thus, one or more of the conclusions reached allow for informed, well thought-out, strategic decisions. According to the technical literature on MCDA, numerous methods are applicable in different decision-making situations, however, advice for selecting the most appropriate for the specific field of application and problem have not been thoroughly investigated. In land and real estate management, numerous queries regarding evaluations often arise. In brief, the objective of this paper is to outline a procedure with which to select the method best suited to the specific queries of evaluation, which commonly arise while addressing decision-making problems. In particular issues of land and real estate management, representing the so-called “settlement sector”. The procedure will follow a theoretical-methodological approach by formulating a taxonomy of the endogenous and exogenous variables of the multi-criteria analysis method

Public initiatives of settlement transformation. A theoretical-methodological approach to selecting tools of multi-criteria decision analysis

In Europe, the operating context in which initiatives of settlement transformation are currently initiated is characterized by a complex, elaborate combination of technical, regulatory and governance-related factors. A similar set of considerations makes it necessary to address the complex decision-making problems to be resolved through multidisciplinary, comparative approaches designed to rationalize the process and treat the elements to be considered in systematic fashion with respect to the range of alternatives available as solutions. Within a context defined in this manner, decision-making processes must often be used to obtain multidisciplinary and multidimensional analyses to support the choices made by the decision-makers. Such analyses are carried out using multi-criteria tools designed to arrive at syntheses of the numerous forms of input data needed to describe decision-making problems of similar complexity, so that one or more outcomes of the synthesis make possible informed, well thought-out, strategic decisions. The technical literature on the topic proposes numerous tools of multi-criteria analysis for application in different decision-making contexts. Still, no specific contributions have been drawn up to date on the approach to take in selecting the tool best suited to providing adequate responses to the queries of evaluation that arise most frequently in the various fields of application, and especially in the settlement sector. The objective of this paper is to propose, by formulating a taxonomy of the endogenous and exogenous variables of tools of multi-criteria analysis, a methodology capable of selecting the tool best suited to the queries of evaluation which arise regarding the chief categories of decision-making problems, and particularly in the settlement sector

Objective Competitiveness Ranking amongst EU Regions (Objective Method for Quantifying Regional Competitiveness - a case study applied to EU15 Regions)

Nowadays the key target of Cohesion Policy is to promote the creation of conditions to improve the growth, and to increase the factors that lead to a real convergence (Economic and Social Cohesion). An important group of these factors is found when considering the competitivity of a Region that implies, (even whitout existintg a clear definition), to consider at the same time two different levels: - The first one through the specific factors to improve the development of the resident managerial weave (Innovation, Research & Development, enterprises nets, labour market, training, support in the use of new technologies, servicies to entreprises, etc.). – The second one, improving the enviromental conditions for the development of such an managerial activity (Transport and comunication infrastructures, environment and sustainable developpment ,use of renewable energies, etc.) The objetcive of the present paper is to propose an objective way to consider the totalitiy of factors simultaneously, in order to obtain a ranking of the of the regional competitivity, and to study his changes in the time. For this, it will be used the data base “REGIO” and techniques of ranking belonging to multicriteria decision making. The analyzed period is from 1987 to 2002 which shows interesting results mainly when compared with other analyses carried out.

A framework for the selection of the right nuclear power plant

Civil nuclear reactors are used for the production of electrical energy. In the nuclear industry vendors propose several nuclear reactor designs with a size from 35–45 MWe up to 1600–1700 MWe. The choice of the right design is a multidimensional problem since a utility has to include not only financial factors as levelised cost of electricity (LCOE) and internal rate of return (IRR), but also the so called “external factors” like the required spinning reserve, the impact on local industry and the social acceptability. Therefore it is necessary to balance advantages and disadvantages of each design during the entire life cycle of the plant, usually 40–60 years. In the scientific literature there are several techniques for solving this multidimensional problem. Unfortunately it does not seem possible to apply these methodologies as they are, since the problem is too complex and it is difficult to provide consistent and trustworthy expert judgments. This paper fills the gap, proposing a two-step framework to choosing the best nuclear reactor at the pre-feasibility study phase. The paper shows in detail how to use the methodology, comparing the choice of a small-medium reactor (SMR) with a large reactor (LR), characterised, according to the International Atomic Energy Agency (2006), by an electrical output respectively lower and higher than 700 MWe

Fuzzy multi-criteria decision making for carbon dioxide geological storage in Turkey

The problem of choosing the best location for CO2 storage is a crucial and challenging multi-criteria decision problem for some companies. This study compares the performance of three fuzzy-based multi-criteria decision making (MCDM) methods, including Fuzzy TOPSIS, Fuzzy ELECTRE I and Fuzzy VIKOR for solving the carbon dioxide geological storage location selection problem in Turkey. The results show that MCDM approach is a useful tool for decision makers in the selection of potential sites for CO2 geological storage

Multi-criteria decision making with linguistic labels: a comparison of two methodologies applied to energy planning

This paper compares two multi-criteria decision making (MCDM) approaches based on linguistic label assessment. The first approach consists of a modified fuzzy TOPSIS methodology introduced by Kaya and Kahraman in 2011. The second approach, introduced by Agell et al. in 2012, is based on qualitative reasoning techniques for ranking multi-attribute alternatives in group decision-making with linguistic labels. Both approaches are applied to a case of assessment and selection of the most suitable types of energy in a geographical area.Peer ReviewedPostprint (published version