Title: An AHP-DEA-based vendor selection approach for an online trading platform
Authors: Yara Aji; Moncer Hariga
Addresses: SHUAA Capital PSC, P.O. Box 31045, Dubai, United Arab Emirates ' College of Engineering, American University of Sharjah, P.O. Box 26666, Sharjah, United Arab Emirates
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.
Keywords: analytical hierarchical process; AHP; data envelopment analysis; DEA; vendor selection; online trading platforms; stock markets; cost-benefit analysis; efficiency analysis; ranking processes.
International Journal of Applied Decision Sciences, 2013 Vol.6 No.1, pp.66 - 82
Published online: 28 Nov 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article