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What is Fuzzy Multiple-Attribute Decision-Making (FMADM)

Chapter 16
Handbook of Research on Organizational Transformations through Big Data Analytics
FMADM is a useful analytical SCM tool that can serve as an aid to management when making a supplier selection for a supply chain using an optimization algorithm. The approach is based on prioritizing and assigning the importance of the supplier candidates then comparing them using a linguistic value with a fuzzy number. These values and resulting numbers can help evaluate the importance of the chosen attributes, sub-attributes as well as the suppliers themselves. The decision-making goes through a 12-step calculation to help rank the order of all alternatives.
Published in Chapter:
Process Improvements in Supply Chain Operations: Multi-Firm Case Studies
Alan D. Smith (Robert Morris University, USA)
Copyright: © 2015 |Pages: 24
DOI: 10.4018/978-1-4666-7272-7.ch016
Abstract
The nature of SCM research is constantly evolving and must address a variety of concerns like poor service, large inventory levels, and friction among suppliers and manufacturers. Analytical databases and techniques in SCM are an important part of this research. Many researchers and practitioners have depended on secondary data, but given the dynamic nature of global competition, more recent and relevant data must be gathered. These efforts need to be geared to the development of properly managed supply chain relationships and corporate sustainability initiatives that ultimately promote broad-based sustainable development objectives for the good of people, plants, and profits (i.e., triple bottom-line).
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