Decision making based on quantitative and qualitative evaluations

This study emphasizes mainly on the influence of evaluations, both qualitative and quantitative, on decision making for many occasions that occur in business and technically oriented settings. Decisions made with a certain fuzzy as wen as technical behavior are structured by means of computer-assisted decision-making tools. Decision support tools assist decision makers in making crucial decisions. For instance the tool that has been designed for the purpose of this research will be used for selecting capital-intensive products. It is also intended to prove that with the help of decision support systems decision makers could make decisions by reducing fuzzy decision behavior about capital investments in organizational systems. Such tools consider more than one criterion in making a decision. \u27Me criteria for decision-making will range from the attributes of the system itself to the cost of the system. For each system under consideration for selection, each attribute will be analyzed and rated. Then a cumulative account of all the attributes for each vendor is brought together as a set. Though this set is produced by each decision maker there is little correlation between his decisions and the evaluation of the product. A product\u27s quantitative evaluation may warrant of a different kind of decision than a qualitative evaluation. An evaluation of a system leads to a decision. However when a decision is the one of selection, as is quite often the case, quantitative and qualitative evaluations may be done. Quantitative evaluations generally are performed based on statistical analysis of the system under consideration. A quantitative evaluation may be based also on algorithms designed for specific scenarios. On the other hand a qualitative evaluation may take place in settings that deal with a single system that must be evaluated and it\u27s evaluation recorded in language specific descriptive terms. 11-iis study discusses how decisions can be made using qualitative and quantitative evaluations for the object or situation under consideration

Multi-criteria decision making approach for vendor selection

In the present study an efficient Multi-Criteria Decision Making (MCDM) approach has been proposed for quality evaluation and performance appraisal in vendor selection. Vendor selection is a Multi-Criteria Decision Making (MCDM) problem influenced by multiple performance criteria/attributes. These criteria attributes may be both qualitative as well as quantitative. Qualitative criteria estimates are generally based on previous experience and expert opinion on a suitable conversion scale (Likert Scale). This conversion is based on human judgment;therefore, predicted result may not be accurate always because the method doesn’t explore real data. These are analyzed using AHP, QFD, Fuzzy techniques etc. reported in literature. In solution of MCDM problems there should be a common trend is to convert quantitative criteria values into an equivalent single performance index called Multi-attribute Performance Index (MPI). Benchmarking and selection of the best alternative can be made in accordance with the MPI values of all the alternatives. In this context, present study highlights application of VIKOR method adapted from MCDM for utilizing quantitative real performance estimate scores. Detail methodology of VIKOR method has been illustrated in this reporting through a case study

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

Meta-Heuristics Analysis for Technologically Complex Programs: Understanding the Impact of Total Constraints for Schedule, Quality and Cost

Program management data associated with a technically complex radio frequency electronics base communication system has been collected and analyzed to identify heuristics which may be utilized in addition to existing processes and procedures to provide indicators that a program is trending to failure. Analysis of the collected data includes detailed schedule analysis, detailed earned value management analysis and defect analysis within the framework of a Firm Fixed Price (FFP) incentive fee contract. This project develops heuristics and provides recommendations for analysis of complex project management efforts such as those discussed herein. The analysis of the effects of the constraints on management of the program indicate that, unless unambiguous program management controls are applied very early to milestone execution and risk management, then plans, schedules, tasks, and resource allocation will not be successful in controlling the constraints of schedule, quality or cost

A hybrid analytical network process and fuzzy goal programming for supplier selection: A case study of auto part maker

The aim of this research is to present a hybrid model to select auto part suppliers. The proposed method of this paper uses factor analysis to find the most influencing factors on part maker selection and the results are validated using different statistical tests such as Cronbach's Alpha and Kaiser-Meyer.The hybrid model uses analytical network process to rank different part maker suppliers and fuzzy goal programming to choose the appropriate alternative among various choices. The implementation of the proposed model of this paper is used for a case study of real-world problem and the results are discussed

Supplier evaluation in manufacturing environment using compromise ranking method with grey interval numbers

Evaluation of proper supplier for manufacturing organizations is one of the most challenging problems in real time manufacturing environment due to a wide variety of customer demands. It has become more and more complicated to meet the challenges of international competitiveness and as the decision makers need to assess a wide range of alternative suppliers based on a set of conflicting criteria. Thus, the main objective of supplier selection is to select highly potential supplier through which all the set goals regarding the purchasing and manufacturing activity can be achieved. Because of these reasons, supplier selection has got considerable attention by the academicians and researchers. This paper presents a combined multi-criteria decision making methodology for supplier evaluation for given industrial applications. The proposed methodology is based on a compromise ranking method combined with Grey Interval Numbers considering different cardinal and ordinal criteria and their relative importance. A ‘supplier selection index’ is also proposed to help evaluation and ranking the alternative suppliers. Two examples are illustrated to demonstrate the potentiality and applicability of the proposed method

Supply Chain

Traditionally supply chain management has meant factories, assembly lines, warehouses, transportation vehicles, and time sheets. Modern supply chain management is a highly complex, multidimensional problem set with virtually endless number of variables for optimization. An Internet enabled supply chain may have just-in-time delivery, precise inventory visibility, and up-to-the-minute distribution-tracking capabilities. Technology advances have enabled supply chains to become strategic weapons that can help avoid disasters, lower costs, and make money. From internal enterprise processes to external business transactions with suppliers, transporters, channels and end-users marks the wide range of challenges researchers have to handle. The aim of this book is at revealing and illustrating this diversity in terms of scientific and theoretical fundamentals, prevailing concepts as well as current practical applications