The research introduces a credible decision-support tool for dealing with uncertainty for supplier selection in the aerated concrete industry. The developed framework includes criteria selection, determination of expert and criterion weights, and alternative ranking within a hyperbolic fuzzy environment. Criteria selection is done via the Laplacian score. Expert weights are methodically determined via entropy measure. Criteria are weighted using the LOPCOW and RANCOM methods, and alternatives are ranked using the hyperbolic extension of the DEPART method. The model is employed to solve a circular supplier selection problem in the aerated concrete industry. Comprehensive sensitivity and comparison checks are conducted.
Journal:Informatica
Volume 17, Issue 4 (2006), pp. 601–618
Abstract
The paper analyses the problem of ranking accuracy in multiple criteria decision-making (MCDM) methods. The methodology for measuring the accuracy of determining the relative significance of alternatives as a function of the criteria values is developed. An algorithm of the Technique for the Order Preference by Similarity to Ideal Solution (TOPSIS) that applies criteria values' transformation through a normalization of vectors and the linear transformation is considered. A computational experiment is presented, to compare the results of a multiple criteria analysis and the ranking accuracy in a particular situation.