COMPARATIVE ANALYSIS OF SOME PROMINENT MCDM METHODS: A CASE OF RANKING SERBIAN BANKS

In the literature, many multiple criteria decision making methods have been proposed. There are also a number of papers, which are devoted to comparison of their characteristics and performances. However, a definitive answer to questions: which method is most suitable and which method is most effective is still actual. Therefore, in this paper, the use of some prominent multiple criteria decision making methods is considered on the example of ranking Serbian banks. The objective of this paper is not to determine which method is most appropriate for ranking banks. The objective of this paper is to emphasize that the use of various multiple criteria decision making methods sometimes can produce different ranking orders of alternatives, highlighted some reasons which lead to different results, and indicate that different results obtained by different MCDM methods are not just a random event, but rather reality

On the use of the MOORA method in the selection of investment projects

As is well known, when faced with the problem of decision-making, involving several (eventually conflicting) objectives evaluated according to several criteria, multi-criteria analysis is one of the most appropriate methodologies to support the decision. The flexibility of multi-criteria decision analysis/making is one of its most recognized characteristics, which comes from the various methods that can be considered. Among them is the so-called MOORA (as the initials of Multi-Objective Optimization by Ratio Analysis) method.info:eu-repo/semantics/publishedVersio

A Bipolar Fuzzy Extension of the MULTIMOORA Method

The aim of this paper is to make a proposal for a new extension of the MULTIMOORA method extended to deal with bipolar fuzzy sets. Bipolar fuzzy sets are proposed as an extension of classical fuzzy sets in order to enable solving a particular class of decision-making problems. Unlike other extensions of the fuzzy set of theory, bipolar fuzzy sets introduce a positive membership function, which denotes the satisfaction degree of the element x to the property corresponding to the bipolar-valued fuzzy set, and the negative membership function, which denotes the degree of the satisfaction of the element x to some implicit counter-property corresponding to the bipolar-valued fuzzy set. By using single-valued bipolar fuzzy numbers, the MULTIMOORA method can be more efficient for solving some specific problems whose solving requires assessment and prediction. The suitability of the proposed approach is presented through an example

A hybrid neutrosophic group ANP-TOPSIS framework for supplier selection problems

One of the most significant competitive strategies for organizations is sustainable supply chain management (SSCM). The vital part in the administration of a sustainable supply chain is the sustainable supplier selection, which is a multi-criteria decision-making issue, including many conflicting criteria.</div

VIKOR Technique:A Systematic Review of the State of the Art Literature on Methodologies and Applications

The main objective of this paper is to present a systematic review of the VlseKriterijuska Optimizacija I Komoromisno Resenje (VIKOR) method in several application areas such as sustainability and renewable energy. This study reviewed a total of 176 papers, published in 2004 to 2015, from 83 high-ranking journals; most of which were related to Operational Research, Management Sciences, decision making, sustainability and renewable energy and were extracted from the “Web of Science and Scopus” databases. Papers were classified into 15 main application areas. Furthermore, papers were categorized based on the nationalities of authors, dates of publications, techniques and methods, type of studies, the names of the journals and studies purposes. The results of this study indicated that more papers on VIKOR technique were published in 2013 than in any other year. In addition, 13 papers were published about sustainability and renewable energy fields. Furthermore, VIKOR and fuzzy VIKOR methods, had the first rank in use. Additionally, the Journal of Expert Systems with Applications was the most significant journal in this study, with 27 publications on the topic. Finally, Taiwan had the first rank from 22 nationalities which used VIKOR technique

SISTEM PENDUKUNG KEPUTUSAN KELOMPOK MENGGUNAKAN KOMBINASI METODE MOORA DAN COPELAND SCORE UNTUK PEMILIHAN VENDOR

Proses pengambilan keputusan pemilihan vendor memiliki cakupan luas dan tingkat kompleksitas tinggi, hal tersebut disebabkan keterlibatan berbagai pihak pengambil keputusan yang memiliki preferensi masing-masing. Konsekuesinya proses pemilihan vendor harus dilakukan secara objektif dan transparan, untuk mendapatkan efektivitas proses dan meminimalisir terjadinya kolusi. Dalam penelitian ini, diusulkan penggunaan konsep Group Decision Support System (GDSS) untuk menentukan vendor terbaik berdasarkan agregasi preferensi masing-masing pihak pengambil keputusan. Konsep GDSS yang diusulkan adalah mengkombinasikan metode Multi-Objective Optimization on the basis of Ratio Analysis (MOORA) dengan metode Copeland Score. Metode MOORA digunakan sebagai metode perangkingan berdasarkan kriteria dan rasio bobot masing-masing pihak pengambil keputusan. Hasil perangkingan menggunakan metode MOORA pada masing-masing pihak pengambil keputusan selanjutnya diagreasikan menggunakan metode Copeland Score, untuk mendapatkan rangking final vendor. Hasil analisis user acceptance test mengindikasikan konsep GDSS yang diusulkan dapat menjembatani permasalahan objektivitas pemilihan vendor, yaitu seluruh responden memberikan respons setuju terhadap pernyataan objektivitas yang membandingkan dengan sistem terdahulu. Analisis sensitivitas pada kombinasi metode MOORA dan Copeland Score juga memberikan hasil yang searah yaitu memiliki nilai sensitivitas yang rendah (9,09%). Kata kunci : GDSS, MOORA, Copeland Score, Pemilihan Vendor The vendor selection decision making process has a wide scope and a high level of complexity, this is due to the involvement of various decision makers who have their respective preferences. Consequently the vendor selection process must be carried out objectively and transparently, to get the effectiveness of the process and minimize collusion. In this research, it is proposed to use the concept of Group Decision Support System (GDSS) to determine the best vendor based on the aggregation of preferences of each decision maker. The proposed GDSS concept is to combine the Multi-Objective Optimization method on the basis of Ratio Analysis (MOORA) with the Copeland Score method. The MOORA method is used as a ranking method based on the criteria and weight ratio of each decision maker. The results of ranking using the MOORA method on each decision-making party are then aggregated using the Copeland Score method, to get the final vendor ranking. The results of the user acceptance test analysis indicate the proposed GDSS concept can bridge the objectivity problem of vendor selection, that is all respondents respond agree with the objectivity statement which comparing with the previous system. Sensitivity analysis on the combination of the MOORA method and the Copeland Score also gives unidirectional results which have a low sensitivity value (9.09%). Keywords : GDSS, MOORA, Copeland Score, Vendor Selectio

Um Modelo de Programação Matemática para Identificação e Redução da Causa de Atrasos no Projeto Usando o Método Multimoora Cinza

A distinctive problem related to projects is the delay in the process of executing them. In general, delays are due to different factors which are originated from the individuals who are concerned with the projects. This problem is more important in megaprojects because of their complexity, uncertainty and long execution time. If the causes of delays are identified at the beginning of their execution, they can be prevented or reduced through appropriate activities. Changes in any factors of the project such as human forces, constructing material and other resources may cause delays in timing the projects. This is an applied research in which theoretical data were collected using the library method. Interviews and questionnaires distributed among the experts of this field were the tools of collecting data. Through a short review on delays in projects, 10 common effective reasons were found which were related to the employer, contractor and the consultant. This study was conducted and weighed on the projects of local electricity power companies in Fars province. Using the three aspects of Gray MULTIMOORA, a model was designed to prioritize the factors that cause the delay. This study suggests some solutions to control and reduce the delays.Un problema distintivo relacionado con los proyectos es el retraso en el proceso de ejecución. En general, los retrasos se deben a diferentes factores que se originan en las personas que están preocupadas con los proyectos. Este problema es más importante en los megaproyectos debido a su complejidad, incertidumbre y largo tiempo de ejecución. Si las causas de los retrasos se identifican al comienzo de su ejecución, se pueden prevenir o reducir mediante actividades apropiadas. Los cambios en cualquier factor del proyecto, como las fuerzas humanas, la construcción de materiales y otros recursos pueden causar retrasos en el cronograma de los proyectos. Esta es una investigación aplicada en la que los datos teóricos se recopilaron utilizando el método de la biblioteca. Las entrevistas y los cuestionarios distribuidos entre los expertos de este campo fueron las herramientas de recolección de datos. A través de una breve revisión de los retrasos en los proyectos, se encontraron 10 razones efectivas comunes relacionadas con el empleador, el contratista y el consultor. Este estudio se realizó y pesó sobre los proyectos de las compañías eléctricas locales en la provincia de Fars. Utilizando los tres aspectos de Gray MULTIMOORA, se diseñó un modelo para priorizar los factores que causan el retraso. Este estudio sugiere algunas soluciones para controlar y reducir los retrasos.Um problema distinto relacionado aos projetos é o atraso no processo de execução. Em geral, os atrasos são devidos a diferentes fatores que são originados dos indivíduos que estão preocupados com os projetos. Este problema é mais importante em megaprojetos devido à sua complexidade, incerteza e longo tempo de execução. Se as causas de atrasos forem identificadas no início de sua execução, elas podem ser evitadas ou reduzidas por meio de atividades apropriadas. Mudanças em quaisquer fatores do projeto, tais como forças humanas, construção de material e outros recursos podem causar atrasos no cronograma dos projetos. Esta é uma pesquisa aplicada em que dados teóricos foram coletados usando o método de biblioteca. Entrevistas e questionários distribuídos entre os especialistas deste campo foram as ferramentas de coleta de dados. Através de uma breve revisão sobre os atrasos nos projetos, foram encontrados 10 motivos efetivos comuns relacionados ao empregador, ao contratado e ao consultor. Este estudo foi conduzido e pesado sobre os projetos de empresas locais de energia elétrica na província de Fars. Usando os três aspectos do MULTIMOORA Cinza, um modelo foi projetado para priorizar os fatores que causam o atraso. Este estudo sugere algumas soluções para controlar e reduzir os atrasos

A Comparative Analysis of TOPSIS and MOORA in Laptop Selection

A lot of criteria are influential in selection of a laptop computer due to the technological and global changes happening  today and making a choice is becoming harder. In this study, criteria that are taken into consideration in laptop selection are evaluated using multi-criteria decision making methods according to the selections of students studying at Dumlupinar University, School of Applied Sciences, and Department of Insurance and Risk Management. 6 criteria and 11 brands are considered for laptop selection. Evaluations made by students and alternatives are analyzed with TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) and MOORA (Multi-Objective Optimization on Basis of Ratio Analysis) methods and results are compared. Keywords: Laptop Selection, Multi-Criteria Decision Making, MOORA, TOPSIS

An extension of the ratio system approach of MOORA method for group decision-making based on interval-valued triangular fuzzy numbers

Decision-making in fuzzy environment is often a very complex, especially when related to predictions and assessments. The Ratio system approach of the MOORA method and Intervalvalued fuzzy numbers have already proved themselves as the effective tools for solving complex decision-making problems. Therefore, in this paper an extension of the Ratio system approach of the MOORA method, which allows a group decision-making as well as the use of interval-valued triangular fuzzy numbers, is proposed. Interval-fuzzy numbers are rather complex, and therefore, they are not practical for direct assigning performance ratings. For this reason, in this paper it has also been suggested the approach which allows the expression of individual performance ratings using crisp, interval or fuzzy numbers, and their further transformation into the group performance ratings, expressed in the form of interval-valued triangular fuzzy numbers, which provide greater flexibility and reality compared to the use of linguistic variables. Finally, in this paper the weighted averaging operator was proposed for defuzzification of interval-valued triangular fuzzy numbers. First published online: 21 Sep 201

The Interval-Valued Intuitionistic Fuzzy MULTIMOORA Method for Group Decision Making in Engineering

Multiple criteria decision making methods have received different extensions under the uncertain environment in recent years. The aim of the current research is to extend the application of the MULTIMOORA method (Multiobjective Optimization by Ratio Analysis plus Full Multiplicative Form) for group decision making in the uncertain environment. Taking into account the advantages of IVIFS (interval-valued intuitionistic fuzzy sets) in handling the problem of uncertainty, the development of the interval-valued intuitionistic fuzzy MULTIMOORA (IVIF-MULTIMOORA) method for group decision making is considered in the paper. Two numerical examples of real-world civil engineering problems are presented, and ranking of the alternatives based on the suggested method is described. The results are then compared to the rankings yielded by some other methods of decision making with IVIF information. The comparison has shown the conformity of the proposed IVIF-MULTIMOORA method with other approaches. The proposed algorithm is favorable because of the abilities of IVIFS to be used for imagination of uncertainty and the MULTIMOORA method to consider three different viewpoints in analyzing engineering decision alternatives