Authors: Morteza Yazdani
Addresses: Department of Business Management, Faculty of Social Sciences, Universidad Europea de Madrid, 28670, Spain
Abstract: Revolutionary attitude of researchers to invent and develop decision-making support tools has been increased for years. Effective methods and models are created to fulfil experts, engineers and managers skill for better and distinct solution. This paper proposes two new multi-attribute decisionmaking methods to indicate applicability and performance of them in area of design and material. Factor relationship (FARE) is introduced for first time in material evaluation field to elaborate weights of material criteria. This method resolves the problem of pairwise comparison judgement which naturally happens for decision makers and addresses more accurate rate of decision criteria. In order to assess materials and sort them according their performance and technical properties, weighted aggregated sum product assessment (WASPAS) method is acquired. The proposed approach is applied in hard magnetic material selection. In the final part of the paper, some tests (e.g., using normalisation tool and correlation coefficient) are handled to conform and validate obtained results.
Keywords: multi-attribute decision-making; MADM; material selection; factor relationship; weighted aggregated sum product assessment; WASPAS; normalisation tool.
International Journal of Business and Systems Research, 2018 Vol.12 No.1, pp.25 - 42
Available online: 14 Nov 2017 *Full-text access for editors Access for subscribers Free access Comment on this article