A Multi-criteria Picture Fuzzy Decision-making Model for Green Supplier Selection based on Fractional Programming

Due to the increasing complexity in green supplier selection, there would be some important issues for expressing inherent uncertainty or imprecision of decision makers’ cognitive information in decision making process. As an extension of intuitionistic fuzzy sets (IFSs) and neutrosophic sets (NSs), picture fuzzy sets (PFSs) can better model and represent the hesitancy and uncertainty of decision makers’ preference information. In this study, an attempt has been made to present a multi-criteria picture fuzzy decision-making model for green supplier selection based on fractional programming. In this approach, the ratings of alternatives and weights of criteria are represented by PFSs and IFSs, respectively. Based on the available information, some pairs of fractional programming models are derived from the Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) and the proposed biparametric picture fuzzy distance measure to determine the relative closeness coefficient intervals of green suppliers, which are aggregated for the criteria to generate the ranking order of all green suppliers by computing their optimal degrees of membership based on the ranking method of interval numbers. Finally, an example is conducted to validate the effectiveness of the proposed multi-criteria decision making (MCMD) method

Evaluation of cryptocurrency investment alternatives with fuzzy CODAS method

Geçmişten bugüne kadar insanlar, ihtiyaçlarını karşılamak için çeşitli ticari işlemler gerçekleştirmişlerdir. Üretilen fazla malların değiş tokuşu ile başlayan bu ticari işlemler, ilerleyen dönemlerde çeşitli değerli eşyalar ve çeşitli formlardaki paralar ile gerçekleşmiştir. Çeşitli formlarda kullanılan paralar zaman içinde günümüzdeki kullandığımız biçimdeki gibi kâğıt formuna gelmiş ve ticari işlemler bu şekilde devam etmiştir. Günümüzde ise teknolojinin gelişmesi ile ticaret, internet üzerinden yaygın bir şekilde devam etmektedir. Özellikle internetin gelişmesi ile kripto para olarak adlandırılan, fiziksel varlığı olmayan ve tamamen internet üzerinde kullanılan paralar popüler hale gelmiştir. Kripto paraların günümüzde ticari işlemlerin yapılması, çeşitli ödemelerin gerçekleştirilmesi, alışveriş gibi alanlarda kullanımı giderek artmaktadır. Çeşitli ticari işlemlerin yanı sıra, kripto paraların henüz gelişimini tamamlaması, kullanımının giderek artması ve gelecekte daha da değerli hale gelecek olması gibi nedenlerle yatırım amacıyla kripto para satın alanların sayısı giderek artmaktadır. Bu çalışmada, yatırım yapmak amacıyla belirlenen en uygun on kripto para alternatifi Çok Kriterli Karar Verme (ÇKKV) yöntemlerinden bulanık CODAS (COmbinative Distance-based ASsessment) yöntemi ile değerlendirilmiştir. Bulanık CODAS yaklaşımında kullanılmak üzere coin ekibi/geliştiriciler, yıllık ortalama getiri, toplam piyasa değeri, roadmap, whitepaper, güvenlik, işlem hızı, destekleyen kurum ve kuruluşlar, en yüksek değerden değişim ve işlem gördüğü borsa sayısı kriterleri kullanılmıştır. Çalışmanın sonucunda yatırımcılar için en uygun kripto para alternatifi belirlenmiştir.People from the past to the present, has carried out various commercial transactions to meet their needs. These commercial transactions, which started with the exchange of surplus goods, were realized in the following periods with various valuables and coins of various forms. The coins used in various forms became paper forms in the same way as we used today, and commercial transactions continued in this way. Nowadays, with the development of technology, commerce continues to be widespread over the internet. Especially with the development of the internet, the money, which is called crypto currency, does not have a physical presence, and is used completely on the internet, has become popular. Nowadays, commercial transactions, various payments and shopping with cryptocurrencies are increasing. In addition to various commercial transactions, the number of purchasers for the purpose of investment has been increasing since the crypto currency has completed its development and will become more valuable in the future. In this study, most suitable ten cryptocurrency alternatives identified as a means of investment have been assessed by using Fuzzy CODAS (COmbinative Distance-based ASsessment) method which is one of the MultiCriteria Decision-Making Methods (MCDM). In fuzzy CODAS method; cryptocurrency alternatives have been evaluated under the criteria of coin team / developers, annual average return, total market value, roadmap, whitepaper, security, transaction speed, supporting institutions and organizations, the highest value of the exchange and the number of exchanges traded. As a result of the study, the most suitable crypto currency alternative has been determined for the investor

Pythagorean fuzzy combinative distance-based assessment with pure linguistic information and its application to financial strategies of multi-national companies

This article addresses the issue of selecting Financial Strategies in Multi-National companies (F.S.M.). The F.S.M. typically has to consider multiple factors involving multiple stakeholders and, hence, can be handled by applying an appropriate Multi-Criteria Group Decision-Making (M.C.G.D.M.) approach. To address this issue, we develop an M.C.G.D.M. framework to tackle the F.S.M. problem. To handle inherent uncertainty in business decisions as reflected by linguistic reasoning, we embark on constructing a Linguistic Pythagorean Fuzzy (L.P.F.) M.C.G.D.M. framework that is capable of tackling both uncertain decision information and linguistic variables. The proposed approach extends the combinative distancebased assessment (C.O.D.A.S.) method into the L.P.F. environment, and processes decision input expressed as Pythagorean fuzzy sets (P.F.S.) and pure linguistic variables (rather than converting linguistic information into fuzzy numbers). The developed L.P.F.- C.O.D.A.S. technique aggregates the L.P.F. information and is applied to the F.S.M. problem with uncertain linguistic information. A comparative analysis is carried out to compare the results obtained from the proposed L.P.F.-C.O.D.A.S. approach with those from other extensions of C.O.D.A.S. Furthermore, a sensitivity analysis is conducted to check the impact of changes in a distance threshold parameter on the ranking results

How warehouse location decisions changed in medical sector after pandemic? a fuzzy comparative study

In the decision theory, there are many useful tools for operations in logistics and Supply Chain Management (SCM). One of the vital trivets of logistics operations is warehouse management which is also one of the parts of a supply chain. Deciding on the location of a warehouse has a critical issue especially during an outbreak. In this study, we aimed that to figure out differences between the perceived importance of the considered criteria in the decision process regarding warehouse location in the medical sector in terms of the changing dynamics after the Covid-19 pandemic. Pursuing this goal, the results of a preliminary study which was resulted from the gathered data of a decision-making group including industry professionals before the pandemic outbreak were accepted as an anchor to obtain a comparison with the current state. To construct a proper representation of the post-Covid state, a similar methodology was used, and similar decision-makers data were collected with the preliminary study in the identification of the importance figures and causal relationships between criteria. According to comparative results of pre-and post-Covid studies, it is found that there are significant changes in the perceived role of adjacency to target markets and customs criteria in medical warehouse location decisions. It is obvious that the results will shed light on medical sector professionals’ decision process while adapting to the current pandemic conditions

Dry Port Terminal Location Selection by Applying the Hybrid Grey MCDM Model

Globalization and decentralization of production generate the intensive growth of goods and transport flows, mostly performed by the maritime transport. Ports, as the main nodes in the global logistics networks, are becoming congested, space for their expansion limited, and traffic in their hinterland congested. As a solution to these and many other hinterland-transport-related problems stands out the development of dry port (DP) terminals. Selection of their location is one of the most important strategic decisions on which depends their competitiveness in the market and the functionality of the logistics network. Accordingly, the evaluation and selection of locations for the development of the DP in accordance with the requirements of various stakeholders is performed in this paper, as a prerequisite for the establishment of an ecological, economic, and socially sustainable logistics network in the observed area. To solve this problem, a new hybrid model of multi-criteria decision-making (MCDM) that combines Delphi, AHP (Analytical Hierarchy Process), and CODAS (Combinative Distance-based Assessment) methods in a grey environment is developed. The main contributions of this paper are the defined model, the problem-solving approach based on finding a compromise solution, simultaneous consideration of the environmental, economic, and social sustainability of the DP concept and its implementation in the regional international markets. The applicability of the approach and the defined MCDM model is demonstrated by solving a real-life case study of ranking the potential DP locations in the Western Balkans region. Based on the obtained results, it is concluded that in the current market conditions, it would be most realistic to open three DP terminals, in Zagreb, Ljubljana, and Belgrad

Proposição de um modelo de decisão multicritério para seleção de fornecedores no contexto da indústria 4.0

Mestrado APNOR e de dupla diplomação com a UTFPR - Universidade Tecnológica Federal do ParanáA indústria 4.0 compreende a aplicação de diferentes soluções tecnológicas de modo que os processos de negócios em toda a cadeia produtiva sejam integrados. A realização da seleção de fornecedores considerando os requisitos da indústria 4.0 é essencial na promoção de estratégias colaborativas entre fornecedores e fabricantes. Nesse enquadramento, por meio de uma revisão sistemática, foram caracterizados os estudos que propuseram modelos quantitativos para apoiar a seleção de fornecedores no contexto da indústria 4.0. No entanto, não foram encontrados modelos que empreguem critérios de avaliação de fornecedores relacionados a requisitos advindos da indústria 4.0, e que consideram a dificuldade de coletar dados para medir o desempenho dos fornecedores. Assim sendo, a fim de preencher a lacuna de pesquisa identificada, este estudo propõe um modelo de decisão para apoiar a seleção de critérios e fornecedores, com base na combinação de Hesitant Fuzzy Linguistic Term Set (HFLTS) com o método Quality Function Deployment (QFD) considerando um conjunto de critérios definidos a partir de requisitos advindos da indústria 4.0. Para isso, um modelo computacional foi desenvolvido no MS Excel e aplicado em um caso ilustrativo utilizando dados simulados. Por meio dos resultados da aplicação, é possível constatar a capacidade do método em apoiar a tomada de decisão em grupo e considerar pesos diferentes para os julgamentos dos decisores na escolha dos critérios e na avaliação dos fornecedores. A sensibilidade nos parâmetros de saída do modelo às alterações nos parâmetros de entrada sugere efetividade do modelo proposto.Industry 4.0 comprises the application of different technological solutions so that business processes throughout the integrated production chain. Carrying out the selection of suppliers considering the requirements of industry 4.0 is essential in the promotion of collaborative collaborators between suppliers and manufacturers. In this context, through a systematic review, studies were characterized that proposed quantitative models to support the selection of suppliers in the context of industry 4.0. However, no models were found that use supplier evaluation criteria related to requirements arising from industry 4.0, and which consider it a difficulty to collect data to assess supplier performance. Therefore, in order to fill an identified research gap, this study proposes a decision model to support a selection of criteria and suppliers, based on the combination of Hesitant Fuzzy Linguistic Term Set (HFLTS) with the Quality Function Deployment (QFD) method considering a set of criteria defined from the requirements arising from industry 4.0. For this, a computational model was developed in MS Excel and applied in an illustrative case using simulated data. Through the results of the application, it is possible to verify the capacity of the method to support group decision making and consider different weights for the judgments of decision makers in the choice of criteria and in the evaluation of suppliers. The sensitivity of the model's output parameters to changes in the input parameters, the effectiveness of the proposed model

Optimization for Decision Making II

In the current context of the electronic governance of society, both administrations and citizens are demanding the greater participation of all the actors involved in the decision-making process relative to the governance of society. This book presents collective works published in the recent Special Issue (SI) entitled “Optimization for Decision Making II”. These works give an appropriate response to the new challenges raised, the decision-making process can be done by applying different methods and tools, as well as using different objectives. In real-life problems, the formulation of decision-making problems and the application of optimization techniques to support decisions are particularly complex and a wide range of optimization techniques and methodologies are used to minimize risks, improve quality in making decisions or, in general, to solve problems. In addition, a sensitivity or robustness analysis should be done to validate/analyze the influence of uncertainty regarding decision-making. This book brings together a collection of inter-/multi-disciplinary works applied to the optimization of decision making in a coherent manner