An AHP-DEA-based vendor selection approach for an online trading platform Online publication date: Thu, 28-Nov-2013
by Yara Aji; Moncer Hariga
International Journal of Applied Decision Sciences (IJADS), Vol. 6, No. 1, 2013
Abstract: The stock markets in the Middle East region are set to develop significantly over the coming years. A local Dubai-based brokerage company, regulated by the United Arab Emirates Central Bank and listed on the Dubai Financial Market, tries to expand rapidly and cost-efficiently in order to take advantage of such development. The company is seeking a highly adaptable and configurable trading platform that can meet both immediate and long-term requirements. The aim of this study is to propose a hybrid qualitative and quantitative assessment procedure to select the best vendor for an online trading solution. Once the data are gathered, an analytical hierarchical process ranking process is first applied, and a detailed cost/benefit analysis is then conducted. Finally, an efficiency analysis is undertaken on the short-listed vendors, using data envelopment analysis technique, in order to validate the selected choice as being judged efficiently, compared to the other vendors.
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