A MOORA based fuzzy multi-criteria decision making approach for supply chain strategy selection
To acquire the competitive advantages in order to survive in the global business scenario, modern companies are now facing the problems of selecting key supply chain strategies. Strategy selection becomes difficult as the number of alternatives and conflicting criteria increases. Multi criteria deci...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Growing Science
2012-08-01
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| Series: | International Journal of Industrial Engineering Computations |
| Subjects: | |
| Online Access: | http://www.growingscience.com/ijiec/Vol3/IJIEC_2012_31.pdf |
| Summary: | To acquire the competitive advantages in order to survive in the global business scenario, modern companies are now facing the problems of selecting key supply chain strategies. Strategy selection becomes difficult as the number of alternatives and conflicting criteria increases. Multi criteria decision making (MCDM) methodologies help the supply chain managers take a lead in a complex industrial set-up. The present investigation applies fuzzy MCDM technique entailing multi-objective optimization on the basis of ratio analysis (MOORA) in selection of alternatives in a supply chain. The MOORA method is utilized to three suitable numerical examples for the selection of supply chain strategies (warehouse location selection and vendor/supplier selection). The results obtained by using current approach almost match with those of previous research works published in various open journals. The empirical study has demonstrated the simplicity and applicability of this method as a strategic decision making tool in a supply chain. |
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| ISSN: | 1923-2926 1923-2934 |