An Study of the Competitiveness of the Spanish Ceramic Tile Industry.

The main objective of the research project is to increase the competitiveness of the Spanish ceramic tile industry and, in this paper, we make a first approach to the state of the art in order to generate a theoretical model of study. This sector faces an increasing competition from other countries. Nowadays, the sector has access to a great deal of technological capacity and needs to diversify and differentiate its products. The precise objectives that we wish to pursue are the following: First, we intend to identify the resources and capacities of the different companys’ behaviour and to evaluate the impact of industrial concentration, with the aim of developing a model that would allow us to propose new competitive strategies.

A STATE INTERVENTION MODEL IN URBAN REGENERATION: DEVELOPMENT AND INTERNAL COHESION

This work provides an analysis and an optimization model of the spatial impact for the externalities derived from the state interventions in terms of urban regeneration and rehabilitation of degraded and segregated historic areas. From the amount invested and state intervention locations, an impact index is put forward. The spatial distribution of these impact indexes in the interventions' area of influence will be the basis for the analysis; hence, by setting some specific objectives of the decision agent about this distribution homogeneity and with the aim of avoiding inner segregation and facilitate the development and cohesion of the neighborhood as a whole, we propose a model which will allow us to allocate the budget available among the different locations fixed a priori. By means of a comparison between the spatial distributions of impact indexes obtained in both situations, a measure of the intervention process and its impact can be obtained.

Quantifying the Sustainability of Products and Suppliers in Food Distribution Companies

[EN] Supplier evaluation is a relevant task of supply chain management where multicriteria methods make great contributions to manufacturing industries. This is not the case in food distribution companies, which have a key role in providing safe and affordable food to society. The purpose of this research is to measure the sustainability of products and suppliers in food distribution companies through a multiple criteria approach. Firstly, the system proposed provides indicators to qualify products and assess the food quality, using the compensatory Multi-Attribute Utility Theory (MAUT) model. Secondly, these indicators are included in supplier evaluation, which takes economic, environmental, and social criteria into account. MAUT and Preference Ranking Organisation Method for Enrichment Evaluation (PROMETHEE), a non-compensatory method, are used for supplier evaluation. This approach has been validated for fresh food in a supermarket chain, mainly using historical data. Partial indicators, such as food safety scores, together with global indicators of suppliers, inform the most appropriate decisions and the most appropriate relations between companies and providers. Poor performance in food safety can lead to the disqualification of some suppliers. MAUT is good for qualifying products and is easy to apply at the operational level in logistic platforms, while PROMETHEE is more suitable for supplier segmentation, as it helps to identify supplier strengths and weaknesses.This research was funded by the Regional Ministry of Education, Research, Culture and Sport of the Autonomous Government of the Valencian Region, Spain, grant number AICO/2017/066.Segura Maroto, M.; Maroto Álvarez, MC.; Segura García Del Río, B. (2019). Quantifying the Sustainability of Products and Suppliers in Food Distribution Companies. Sustainability. 11(21):1-18. https://doi.org/10.3390/su11215875S1181121Thies, C., Kieckhäfer, K., Spengler, T. S., & Sodhi, M. S. (2019). Operations research for sustainability assessment of products: A review. European Journal of Operational Research, 274(1), 1-21. doi:10.1016/j.ejor.2018.04.039Diaz-Balteiro, L., González-Pachón, J., & Romero, C. (2017). Measuring systems sustainability with multi-criteria methods: A critical review. European Journal of Operational Research, 258(2), 607-616. doi:10.1016/j.ejor.2016.08.075Zimmer, K., Fröhling, M., & Schultmann, F. (2015). Sustainable supplier management – a review of models supporting sustainable supplier selection, monitoring and development. International Journal of Production Research, 54(5), 1412-1442. doi:10.1080/00207543.2015.1079340Chai, J., & Ngai, E. W. T. (2020). Decision-making techniques in supplier selection: Recent accomplishments and what lies ahead. Expert Systems with Applications, 140, 112903. doi:10.1016/j.eswa.2019.112903Chai, J., Liu, J. N. K., & Ngai, E. W. T. (2013). Application of decision-making techniques in supplier selection: A systematic review of literature. Expert Systems with Applications, 40(10), 3872-3885. doi:10.1016/j.eswa.2012.12.040Govindan, K., Rajendran, S., Sarkis, J., & Murugesan, P. (2015). Multi criteria decision making approaches for green supplier evaluation and selection: a literature review. Journal of Cleaner Production, 98, 66-83. doi:10.1016/j.jclepro.2013.06.046Ansari, Z. N., & Kant, R. (2017). A state-of-art literature review reflecting 15 years of focus on sustainable supply chain management. Journal of Cleaner Production, 142, 2524-2543. doi:10.1016/j.jclepro.2016.11.023Ho, W., Xu, X., & Dey, P. K. (2010). Multi-criteria decision making approaches for supplier evaluation and selection: A literature review. European Journal of Operational Research, 202(1), 16-24. doi:10.1016/j.ejor.2009.05.009Rajeev, A., Pati, R. K., Padhi, S. S., & Govindan, K. (2017). Evolution of sustainability in supply chain management: A literature review. Journal of Cleaner Production, 162, 299-314. doi:10.1016/j.jclepro.2017.05.026Demir, L., Akpınar, M. E., Araz, C., & Ilgın, M. A. (2018). A green supplier evaluation system based on a new multi-criteria sorting method: VIKORSORT. Expert Systems with Applications, 114, 479-487. doi:10.1016/j.eswa.2018.07.071Dweiri, F., Kumar, S., Khan, S. A., & Jain, V. (2016). Designing an integrated AHP based decision support system for supplier selection in automotive industry. Expert Systems with Applications, 62, 273-283. doi:10.1016/j.eswa.2016.06.030Chang, L., Ouzrout, Y., Nongaillard, A., Bouras, A., & Jiliu, Z. (2014). Multi-criteria decision making based on trust and reputation in supply chain. International Journal of Production Economics, 147, 362-372. doi:10.1016/j.ijpe.2013.04.014Ekici, A. (2013). An improved model for supplier selection under capacity constraint and multiple criteria. International Journal of Production Economics, 141(2), 574-581. doi:10.1016/j.ijpe.2012.09.013Lin, R.-H. (2012). An integrated model for supplier selection under a fuzzy situation. International Journal of Production Economics, 138(1), 55-61. doi:10.1016/j.ijpe.2012.02.024Amid, A., Ghodsypour, S. H., & O’Brien, C. (2011). A weighted max–min model for fuzzy multi-objective supplier selection in a supply chain. International Journal of Production Economics, 131(1), 139-145. doi:10.1016/j.ijpe.2010.04.044Chen, Y.-J. (2011). Structured methodology for supplier selection and evaluation in a supply chain. Information Sciences, 181(9), 1651-1670. doi:10.1016/j.ins.2010.07.026Zeydan, M., Çolpan, C., & Çobanoğlu, C. (2011). A combined methodology for supplier selection and performance evaluation. Expert Systems with Applications, 38(3), 2741-2751. doi:10.1016/j.eswa.2010.08.064Şen, C. G., Baraçlı, H., Şen, S., & Başlıgil, H. (2009). An integrated decision support system dealing with qualitative and quantitative objectives for enterprise software selection. Expert Systems with Applications, 36(3), 5272-5283. doi:10.1016/j.eswa.2008.06.070Bottani, E., & Rizzi, A. (2008). An adapted multi-criteria approach to suppliers and products selection—An application oriented to lead-time reduction. International Journal of Production Economics, 111(2), 763-781. doi:10.1016/j.ijpe.2007.03.012Govindan, K., Kadziński, M., & Sivakumar, R. (2017). Application of a novel PROMETHEE-based method for construction of a group compromise ranking to prioritization of green suppliers in food supply chain. Omega, 71, 129-145. doi:10.1016/j.omega.2016.10.004Rezaei, J. (2015). Best-worst multi-criteria decision-making method. Omega, 53, 49-57. doi:10.1016/j.omega.2014.11.009Rezaei, J., & Ortt, R. (2013). Multi-criteria supplier segmentation using a fuzzy preference relations based AHP. European Journal of Operational Research, 225(1), 75-84. doi:10.1016/j.ejor.2012.09.037Segura, M., & Maroto, C. (2017). A multiple criteria supplier segmentation using outranking and value function methods. Expert Systems with Applications, 69, 87-100. doi:10.1016/j.eswa.2016.10.031Bloemhof, J. M., & Soysal, M. (2016). Sustainable Food Supply Chain Design. Springer Series in Supply Chain Management, 395-412. doi:10.1007/978-3-319-29791-0_18Grimm, J. H., Hofstetter, J. S., & Sarkis, J. (2014). Critical factors for sub-supplier management: A sustainable food supply chains perspective. International Journal of Production Economics, 152, 159-173. doi:10.1016/j.ijpe.2013.12.011Lau, H., Nakandala, D., & Shum, P. K. (2018). A business process decision model for fresh-food supplier evaluation. Business Process Management Journal, 24(3), 716-744. doi:10.1108/bpmj-01-2016-0015Beske, P., Land, A., & Seuring, S. (2014). Sustainable supply chain management practices and dynamic capabilities in the food industry: A critical analysis of the literature. International Journal of Production Economics, 152, 131-143. doi:10.1016/j.ijpe.2013.12.026Schmitt, E., Galli, F., Menozzi, D., Maye, D., Touzard, J.-M., Marescotti, A., … Brunori, G. (2017). Comparing the sustainability of local and global food products in Europe. Journal of Cleaner Production, 165, 346-359. doi:10.1016/j.jclepro.2017.07.039Behzadian, M., Kazemzadeh, R. B., Albadvi, A., & Aghdasi, M. (2010). PROMETHEE: A comprehensive literature review on methodologies and applications. European Journal of Operational Research, 200(1), 198-215. doi:10.1016/j.ejor.2009.01.021The PROMETHEE Bibliographical Databasehttp://www.promethee-gaia.net/bibliographical-database.htmlChen, Y.-H., Wang, T.-C., & Wu, C.-Y. (2011). Strategic decisions using the fuzzy PROMETHEE for IS outsourcing. Expert Systems with Applications, 38(10), 13216-13222. doi:10.1016/j.eswa.2011.04.137Araz, C., & Ozkarahan, I. (2007). Supplier evaluation and management system for strategic sourcing based on a new multicriteria sorting procedure. International Journal of Production Economics, 106(2), 585-606. doi:10.1016/j.ijpe.2006.08.008Dulmin, R., & Mininno, V. (2003). Supplier selection using a multi-criteria decision aid method. Journal of Purchasing and Supply Management, 9(4), 177-187. doi:10.1016/s1478-4092(03)00032-3Seuring, S. (2013). A review of modeling approaches for sustainable supply chain management. Decision Support Systems, 54(4), 1513-1520. doi:10.1016/j.dss.2012.05.053Brandenburg, M., Govindan, K., Sarkis, J., & Seuring, S. (2014). Quantitative models for sustainable supply chain management: Developments and directions. European Journal of Operational Research, 233(2), 299-312. doi:10.1016/j.ejor.2013.09.032Xu, Z. (2000). On consistency of the weighted geometric mean complex judgement matrix in AHP. European Journal of Operational Research, 126(3), 683-687. doi:10.1016/s0377-2217(99)00082-xKonys. (2019). Green Supplier Selection Criteria: From a Literature Review to a Comprehensive Knowledge Base. Sustainability, 11(15), 4208. doi:10.3390/su11154208D-Sight CDMhttp://www.d-sight.com/solutions/d-sight-cd

Identifying Functionality of Peri-Urban Agricultural Systems: A Case Study

Some agricultural systems, especially peri-urban agricultural systems, are characterized as agricultural ecosystems that provide goods and services related to leisure and recreation, the process development beneficial to the environment, such as fixing CO2, the production of healthy and safe food, and the preservation of natural and cultural heritage. Public intervention in agriculture has traditionally been known as a basic economic task performed by the government whose main objective is food security. But now, agricultural policies have been increasingly challenged by civil society demand, such as a new agricultural model with stronger consideration for non-commodity goods and services. The main obstacles for public intervention are, knowing production of goods and services and externality by peri-urban agriculture system, and identifying what specific demands agriculture needs to satisfy social preferences for goods and services

Efecto de las intervenciones públicas en regeneración urbana: un modelo para evaluar su eficiencia

[ES] En el presente artículo se analizan los efectos que los programas de regeneración urbana, principalmente financiados con fondos públicos, tienen sobre el mercado inmobiliario en la zona de intervención. Estudiamos la evolución temporal de los precios y proponemos un modelo de precios hedónicos que relaciona las inversiones en las distintas intervenciones y los valores de mercado observados. Los resultados indican que los valores obtenidos por el método de los precios hedónicos son bastante representativos de los valores observados en el mercado de los bienes inmuebles. Al aislar el impacto de estas intervenciones en el valor de los bienes inmuebles de la zona de influencia, tenemos una estimación del beneficio social derivado de la intervención, que puede ser empleado como medida de la eficiencia de la rehabilitación pública llevada a cabo en los centros históricos.Cervelló Royo, RE.; Segura García Del Río, B. (2011). Efecto de las intervenciones públicas en regeneración urbana: un modelo para evaluar su eficiencia. CIRIEC-España. Revista de Economía Pública, Social y Cooperativa. Abril(70):33-54. http://hdl.handle.net/10251/308803354Abril7

An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach

[EN] This paper examines key aspects of the behavior of housing demand from a sustainable standpoint. Most studies have mainly focused on housing supply, looking at quantitative predictions without considering the qualitative relationship found between housing values and housing demand on a sustainable and microeconomic scale. We used a multicriteria decision methodology (analytic hierarchy process-AHP) for the analysis of preferences in demand, based on the theory of multi-attribute utility of housing, to determine the relative importance of each characteristic of housing and its influence on the decision-making process. For this purpose, we carried out the study over three main groups of stakeholders in the housing market: real estate surveyors, real estate agents, and housing buyers (the latter representing the housing demand). Results show that although there might be some slight discrepancies among the three groups in the decision-making process and the weighting of housing attributes, the three groups agree in most of the process, especially when defining the criteria and the importance that each criterion has on the process of valuation. This study provides important managerial and sustainable implications for the real estate market related to urban public policy, as we highlight which criteria are most preferred.Cervelló Royo, RE.; Segura, M.; Garcia-Perez, R.; Segura García Del Río, B. (2021). An Analysis of Preferences in Housing Demand by Means of a Multicriteria Methodology (AHP). A More Sustainable Approach. Sustainability. 13(14):1-16. https://doi.org/10.3390/su13147550116131

Spatial analysis of agricultural land prices

[EN] Since 1983, the Spanish administration publish the national land prices survey, whose main objective is to measure the prices evolution of agricultural land. The Survey provides objective reference prices without speculative effects, by Autonomous Communities and differentiated by the most representative uses in each one of them. We start from the hypothesis that the land value is conditioned by its location. We want analyst the spatial correlation between the prices publicized or it is necessary different grouping or if it is necessary to introduce new location correction factors.[ES] Desde 1983 la administración española publica anualmente la Encuesta nacional de Precios de la Tierra con el objeto de medir la evolución de los precios de suelo agrarios. La Encuesta proporciona precios de referencia objetivos y libres de efectos especulativos, por Comunidades Autónomas y por los aprovechamientos más representativos en cada una de ellas. Bajo la hipótesis de que el valor del suelo está relacionado con su localización, se pretende comprobar la existencia de correlaciones espaciales entre los precios publicados y si podemos aplicar los mismos coeficientes de localización, o si es necesario introducir nuevos factores de corrección por localización.Segura, B.; Marqués Pérez, I. (2018). Análisis espacial de los precios del suelo de uso agrario. Economía Agraria y Recursos Naturales - Agricultural and Resource Economics. 18(1):135-159. doi:10.7201/earn.2018.01.06SWORD13515918

Innovation in the Agri‐Food sector: Exploiting opportunities for Industry 4.0

This is the pre-peer reviewed version of the following article: Innovation in the Agri‐Food sector: Exploiting opportunities for Industry 4.0, which has been published in final form at https://doi.org/10.1111/caim.12418. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions.Agri‐Food producers have a responsibility to provide safe, secure and sustainable food in a world characterized by disruption and increasing intolerance of waste along supply chains. As such, it is critical that they adopt new technologies to ensure efficient and effective management of their responsibility. While Industry 4.0 (I4.0) technologies can underpin process innovation opportunities, there is a gap in research‐based understanding of how they influence innovation practice and outcomes in Agri‐Food. In this paper, we investigate how I4.0, as a set of enabling technologies, influences core process innovation practice and product innovation outcomes in Agri‐Food firms. We present case studies of two Spanish firms processing fresh food products, competing in two important subsectors of the industry, meat and fruit and vegetables. We used secondary material and semi‐structured interviews as data sources. The findings describe how, in the two cases, I4.0 has enabled responses to new customers requirements through process innovations resulting in enhanced functionality, aesthetics and meaning of the delivered products. Our paper contributes a framework identifying for researchers and managers how I4.0 technologies act as enablers of the core innovation processes and competitive outcomes

Improving Food Supply Chain Management by a Sustainable Approach to Supplier Evaluation

[EN] Increasing food supply chain sustainability means having to deal with many conflicting aspects and involves producers, several departments in distribution companies, and consumers. The objectives of this research are to develop models to solve real-world supplier evaluation problems and validate them with real data on fresh fruits in a supermarket chain. Literature review and results from a survey with managers from purchasing, logistics, and quality departments of a food distribution company are used to establish criteria, to first model the assessment of products and, second, to model supplier evaluation. A multicriteria hybrid approach is proposed, using multi-attribute utility theory (MAUT) to assess the quality of products and Preference Ranking Organisation Method for Enrichment Evaluation (PROMETHEE) to complete their evaluation with strategic criteria to be included in the second phase. The results allow companies to rank suppliers by product and classify them according to the main criteria categories, such as product strategy, food safety, economic, logistic, commercial, green image and corporate social responsibility. A sorting approach is also applied to obtain ordered groups of suppliers. Finally, the models proposed can form the core of a decision support system in order to create and monitor the supplier base in food distribution companies, as well as to inform sustainable decision making.This research was funded by the Regional Ministry of Education, Research, Culture and Sport of the Autonomous Government of the Valencian Region, Spain, grant number AICO/2017/066.Segura Maroto, M.; Maroto Álvarez, MC.; Segura García Del Río, B.; Casas-Rosal, JC. (2020). Improving Food Supply Chain Management by a Sustainable Approach to Supplier Evaluation. Mathematics. 8(11):1-23. https://doi.org/10.3390/math8111952S123811Ho, W., Xu, X., & Dey, P. K. (2010). Multi-criteria decision making approaches for supplier evaluation and selection: A literature review. European Journal of Operational Research, 202(1), 16-24. doi:10.1016/j.ejor.2009.05.009Zimmer, K., Fröhling, M., & Schultmann, F. (2015). Sustainable supplier management – a review of models supporting sustainable supplier selection, monitoring and development. International Journal of Production Research, 54(5), 1412-1442. doi:10.1080/00207543.2015.1079340Aouadni, S., Aouadni, I., & Rebaï, A. (2019). A systematic review on supplier selection and order allocation problems. Journal of Industrial Engineering International, 15(S1), 267-289. doi:10.1007/s40092-019-00334-yChai, J., Liu, J. N. K., & Ngai, E. W. T. (2013). Application of decision-making techniques in supplier selection: A systematic review of literature. Expert Systems with Applications, 40(10), 3872-3885. doi:10.1016/j.eswa.2012.12.040Chai, J., & Ngai, E. W. T. (2020). Decision-making techniques in supplier selection: Recent accomplishments and what lies ahead. Expert Systems with Applications, 140, 112903. doi:10.1016/j.eswa.2019.112903Wetzstein, A., Hartmann, E., Benton jr., W. C., & Hohenstein, N.-O. (2016). A systematic assessment of supplier selection literature – State-of-the-art and future scope. International Journal of Production Economics, 182, 304-323. doi:10.1016/j.ijpe.2016.06.022Ansari, Z. N., & Kant, R. (2017). A state-of-art literature review reflecting 15 years of focus on sustainable supply chain management. Journal of Cleaner Production, 142, 2524-2543. doi:10.1016/j.jclepro.2016.11.023Schramm, V. B., Cabral, L. P. B., & Schramm, F. (2020). Approaches for supporting sustainable supplier selection - A literature review. Journal of Cleaner Production, 273, 123089. doi:10.1016/j.jclepro.2020.123089Govindan, K., Rajendran, S., Sarkis, J., & Murugesan, P. (2015). Multi criteria decision making approaches for green supplier evaluation and selection: a literature review. Journal of Cleaner Production, 98, 66-83. doi:10.1016/j.jclepro.2013.06.046Rajeev, A., Pati, R. K., Padhi, S. S., & Govindan, K. (2017). Evolution of sustainability in supply chain management: A literature review. Journal of Cleaner Production, 162, 299-314. doi:10.1016/j.jclepro.2017.05.026Demir, L., Akpınar, M. E., Araz, C., & Ilgın, M. A. (2018). A green supplier evaluation system based on a new multi-criteria sorting method: VIKORSORT. Expert Systems with Applications, 114, 479-487. doi:10.1016/j.eswa.2018.07.071Diaz-Balteiro, L., González-Pachón, J., & Romero, C. (2017). Measuring systems sustainability with multi-criteria methods: A critical review. European Journal of Operational Research, 258(2), 607-616. doi:10.1016/j.ejor.2016.08.075Thies, C., Kieckhäfer, K., Spengler, T. S., & Sodhi, M. S. (2019). Operations research for sustainability assessment of products: A review. European Journal of Operational Research, 274(1), 1-21. doi:10.1016/j.ejor.2018.04.039Konys. (2019). Green Supplier Selection Criteria: From a Literature Review to a Comprehensive Knowledge Base. Sustainability, 11(15), 4208. doi:10.3390/su11154208Segura, M., Maroto, C., & Segura, B. (2019). Quantifying the Sustainability of Products and Suppliers in Food Distribution Companies. Sustainability, 11(21), 5875. doi:10.3390/su11215875Memari, A., Dargi, A., Akbari Jokar, M. R., Ahmad, R., & Abdul Rahim, A. R. (2019). Sustainable supplier selection: A multi-criteria intuitionistic fuzzy TOPSIS method. Journal of Manufacturing Systems, 50, 9-24. doi:10.1016/j.jmsy.2018.11.002Dweiri, F., Kumar, S., Khan, S. A., & Jain, V. (2016). Designing an integrated AHP based decision support system for supplier selection in automotive industry. Expert Systems with Applications, 62, 273-283. doi:10.1016/j.eswa.2016.06.030Chang, L., Ouzrout, Y., Nongaillard, A., Bouras, A., & Jiliu, Z. (2014). Multi-criteria decision making based on trust and reputation in supply chain. International Journal of Production Economics, 147, 362-372. doi:10.1016/j.ijpe.2013.04.014Ekici, A. (2013). An improved model for supplier selection under capacity constraint and multiple criteria. International Journal of Production Economics, 141(2), 574-581. doi:10.1016/j.ijpe.2012.09.013Lin, R.-H. (2012). An integrated model for supplier selection under a fuzzy situation. International Journal of Production Economics, 138(1), 55-61. doi:10.1016/j.ijpe.2012.02.024Amid, A., Ghodsypour, S. H., & O’Brien, C. (2011). A weighted max–min model for fuzzy multi-objective supplier selection in a supply chain. International Journal of Production Economics, 131(1), 139-145. doi:10.1016/j.ijpe.2010.04.044Chen, Y.-J. (2011). Structured methodology for supplier selection and evaluation in a supply chain. Information Sciences, 181(9), 1651-1670. doi:10.1016/j.ins.2010.07.026Zeydan, M., Çolpan, C., & Çobanoğlu, C. (2011). A combined methodology for supplier selection and performance evaluation. Expert Systems with Applications, 38(3), 2741-2751. doi:10.1016/j.eswa.2010.08.064Şen, C. G., Baraçlı, H., Şen, S., & Başlıgil, H. (2009). An integrated decision support system dealing with qualitative and quantitative objectives for enterprise software selection. Expert Systems with Applications, 36(3), 5272-5283. doi:10.1016/j.eswa.2008.06.070Bottani, E., & Rizzi, A. (2008). An adapted multi-criteria approach to suppliers and products selection—An application oriented to lead-time reduction. International Journal of Production Economics, 111(2), 763-781. doi:10.1016/j.ijpe.2007.03.012Segura, M., & Maroto, C. (2017). A multiple criteria supplier segmentation using outranking and value function methods. Expert Systems with Applications, 69, 87-100. doi:10.1016/j.eswa.2016.10.031Trapp, A. C., & Sarkis, J. (2016). Identifying Robust portfolios of suppliers: a sustainability selection and development perspective. Journal of Cleaner Production, 112, 2088-2100. doi:10.1016/j.jclepro.2014.09.062Araz, C., & Ozkarahan, I. (2007). Supplier evaluation and management system for strategic sourcing based on a new multicriteria sorting procedure. International Journal of Production Economics, 106(2), 585-606. doi:10.1016/j.ijpe.2006.08.008Boran, F. E., Genç, S., Kurt, M., & Akay, D. (2009). A multi-criteria intuitionistic fuzzy group decision making for supplier selection with TOPSIS method. Expert Systems with Applications, 36(8), 11363-11368. doi:10.1016/j.eswa.2009.03.039Zopounidis, C., & Doumpos, M. (2002). Multicriteria classification and sorting methods: A literature review. European Journal of Operational Research, 138(2), 229-246. doi:10.1016/s0377-2217(01)00243-0Brans, J. P., Vincke, P., & Mareschal, B. (1986). How to select and how to rank projects: The Promethee method. European Journal of Operational Research, 24(2), 228-238. doi:10.1016/0377-2217(86)90044-5Nemery, P., & Lamboray, C. (2007). ℱlow $\mathcal{S}$ ort: a flow-based sorting method with limiting or central profiles. TOP, 16(1), 90-113. doi:10.1007/s11750-007-0036-xLau, H., Nakandala, D., & Shum, P. K. (2018). A business process decision model for fresh-food supplier evaluation. Business Process Management Journal, 24(3), 716-744. doi:10.1108/bpmj-01-2016-0015D-Sight CDM http://www.d-sight.com/solutions/d-sight-cdmNemery, P., Lidouh, K., & Mareschal, B. (2011). On the usefulness of taking the weights into account in the GAIA visualisations. International Journal of Information and Decision Sciences, 3(3), 228. doi:10.1504/ijids.2011.041585Nemery, P., Ishizaka, A., Camargo, M., & Morel, L. (2012). Enriching descriptive information in ranking and sorting problems with visualizations techniques. Journal of Modelling in Management, 7(2), 130-147. doi:10.1108/17465661211242778Xu, Z. (2000). On consistency of the weighted geometric mean complex judgement matrix in AHP. European Journal of Operational Research, 126(3), 683-687. doi:10.1016/s0377-2217(99)00082-xOrtiz‐Barrios, M., Miranda‐De la Hoz, C., López‐Meza, P., Petrillo, A., & De Felice, F. (2019). A case of food supply chain management with AHP, DEMATEL, and TOPSIS. Journal of Multi-Criteria Decision Analysis, 27(1-2), 104-128. doi:10.1002/mcda.169

Truncated distributions of valuation multiples: an application to European food firms

[EN] Company valuation is increasingly used in company management for various purposes. However, in Spain, information that is useful for small and medium-sized enterprises (SMEs) is non-existent. In order to broaden this information, a mass model for valuation of companies is proposed to enable valuation multiples to be obtained. This model has been applied to SMEs in the food sector in Spain. However, the asymmetry of the distributions obtained causes an upwards bias of the mean multiples and makes it difficult to establish statistically significant differences between the distributions. To solve this problem, an algorithm to eliminate outliers has been designed which enables the most probable range of values to be obtained for each multiple. The multiples obtained are compared with the multiples for European food companies listed on the stock market, revealing statistically significant differences.Ribal Sanchis, FJ.; Blasco Ruiz, A.; Segura García Del Río, B. (2009). Truncated distributions of valuation multiples: an application to European food firms. International Journal of Mathematics in Operational Research. 1(4):419-432. doi:10.1504/IJMOR.2009.026275S4194321