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What is Multi-Criteria Decision Making (MCDM)

Chapter 12
Handbook of Research on Recent Perspectives on Management, International Trade, and Logistics
When it comes to evaluating multiple criteria together in a decision problem, such decision making problems are examined under the name of multi-criteria decision making problem. Multi-criteria decision-making methods are widely used in supplier selection.
Published in Chapter:
Selection of The Best Supplier in Furniture Industry by Using Fuzzy Analytic Hierarchy Process Method
Yusuf Ersoy (Uşak University, Turkey)
Copyright: © 2021 |Pages: 18
DOI: 10.4018/978-1-7998-5886-7.ch012
Abstract
Considering the globalization and the global economy, companies need to make strategic decisions in the furniture sector, as in many other sectors. In today's competitive conditions, supply chain management plays a major role in the success of firms and ensuring their sustainability in the sector. Therefore, companies need to work with suitable suppliers to be successful in supply chain management. There are many different methods used in the literature for evaluating suppliers. Fuzzy analytic hierarchy process (FAHP) method, which is one of the multi-criteria decision-making (MCDM) methods, is widely used in supplier selection problems. This study aimed to determine the best suppliers of a furniture production company in Turkey using the FAHP. In the study, four suppliers of the company were evaluated according to price, quality, delivery, innovativeness, and reliability criteria. As a result of the application, the ranking of the suppliers was made, and the best supplier selected.
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More Results
Chapter 12
Evaluation of Hotel Web Pages According to User Suitability
MCDM is a research discipline that explicitly considers multiple criteria in decision-making process.
Published in Chapter: Evaluation of Hotel Web Pages According to User Suitability; From: Intelligent Analytics With Advanced Multi-Industry Applications
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Chapter 11
Entropy-Based VIKOR Method and a Case Study: An Evaluation of Websites' Technical and Popularity Performances
MCDM is a general framework for supporting complex decision-making systems with multiple and conflicting criteria that decision-makers value differently.
Published in Chapter: Entropy-Based VIKOR Method and a Case Study: An Evaluation of Websites' Technical and Popularity Performances; From: Multi-Criteria Decision Analysis in Management
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Chapter 200
Strategic Decision Making in Global Supply Networks
Methods that are designed to solve decision problems incorporating multiple-criteria whose solutions often result in conflicting objective values.
Published in Chapter: Strategic Decision Making in Global Supply Networks; From: Encyclopedia of Networked and Virtual Organizations
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Chapter 23
A Multi-Criteria Decision Making Approach for Evaluation of MOOCs Platforms
MCDM is the study of methods and procedures by which concerns about multiple conflicting criteria can be formally incorporated into the decision making process.
Published in Chapter: A Multi-Criteria Decision Making Approach for Evaluation of MOOCs Platforms; From: Handbook of Research on Learning Outcomes and Opportunities in the Digital Age
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