International Journal of Management and Decision Making
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International Journal of Management and Decision Making (6 papers in press)
A hybrid multi-criteria decision making model for technological innovation capabilities measurement in automotive parts industry by Detcharat Sumrit Abstract: Technological innovation capabilities (TICs) are currently one of the essential factors to enhance the competitiveness of enterprises. The measurement of TICs is a complicated decision making process and quite difficult to perform because its assessment involves multi-attribute criteria and the subjective judgements of experts. To solve these problems, this study provides a TICs evaluating model by employing a hybrid multi-criteria decision making (MCDM) technique. This method is an integration of four approaches, consisting of: 1) fuzzy Delphi; 2) fuzzy DEMATEL; 3) analytical network process; 4) technique for order preference by similarity to an ideal solution (TOPSIS). The final results showed the measurement criteria, the interrelationship and the relative important weights among criteria and the ranking of TICs of firms. An empirical study is also illustrated in Thai automotive parts firms as a case study. Furthermore, this study could assist industrial managers to efficiently evaluate TICs and its direction of improvement. Keywords: ANP; Fuzzy Delphi; Fuzzy DEMATEL; MCDM; TOPSIS. DOI: 10.1504/IJMDM.2020.10022200
An Empirical Net Asset Value Forecasting Model based on Optimized ANN using Elephant Herding Strategy by Srikanta Patnaik, Sarbeswara Hota, Kuhoo ., Debahuti Mishra Abstract: Net asset value (NAV) prediction of mutual funds is one of the promising tasks of financial time series data forecasting. It enables the investors to choose the desired mutual fund for investing. Artificial neural network (ANN) is well suited for NAV prediction as the NAV data are nonlinear in nature. This paper proposes the ANN model hybridised with elephant herding optimisation (EHO) algorithm to predict the NAV of different interval days ahead for two of the Indian mutual funds. The prediction performance of ANN-EHO model is compared with ANN, ANN-GA, ANN-PSO and ANN-DE. The results implicate that ANN-EHO model is superior to other four models. Keywords: Net Asset Value; Elephant Herding Optimization; Differential Evolution; Matriarch. DOI: 10.1504/IJMDM.2020.10022206
Selecting a robust decision making method to evaluate employee performance by M. Haddad, D. Sanders, N. Bausch Abstract: This paper investigates how to select a robust decision making method to evaluate employee performance. Two multiple criteria decision making (MCDM) methods are considered for the evaluation of US coast guard officers. Sensitivity analysis is conducted to understand the nature of uncertainty in evaluation criteria and employee performance. Outcomes from this analysis provide an understanding of the most critical factors governing the evaluation. MCDM methods dealing with discrete sets of alternatives are considered. The stability of two MCDM methods' outcomes are compared and the method with the most stable outcome is recommended. The minimum percentage change in criteria weights and performance scores required to alter the outcome of the evaluation is calculated. An MCDM method is recommended based on a best compromise in minimum percentage change required in inputs to alter the outcome of a method. Keywords: employee performance; decision making; evaluation; sensitivity; stability. DOI: 10.1504/IJMDM.2019.10021560
A hybrid approach to determine the network structure of strategic criteria in carpet industries by Nasrin Hemayatkar, Kaveh Khalili-Damghani, Hossein Didehkhani, Roohalla Samiee Abstract: Carpet industry is one of the non-oil industries in Iran. So, development of carpet industry through strategic planning may help decision makers in this area. The most important issue in strategic planning is identifying the affecting criteria in the field. A hybrid approach on the basis of DEMATEL and ANP is proposed for ranking of most effective strategic criteria in carpet industry. In the first phase, the most important strategic criteria in carpet industry are selected. Then, the reliability of selected criteria is measured through Cronbach's alpha. In the second phase, the interactive network of selected criteria is quantified using DEMATEL approach and the cause and effect criteria are classified. In the third phase, ANP approach is used to fully rank the criteria and the weights of the criteria are determined. This paper is a case study for ranking and identifying the relationships among key factors of organisational strategy in the carpet industry. The whole approach is applied in the carpet industry in Iran. The final results of the research can help the managers to recognise the complicated interactive network of the cause and effects indicators in development of carpet industry strategies, and to achieve the relative importance of the indicators. Keywords: decision-making; performance measurement; DEMATEL; analytic network process; ANP; carpet industry. DOI: 10.1504/IJMDM.2019.10021602
A multi-criteria decision making model for readiness assessment of vendor managed inventory in healthcare by Detcharat Sumrit Abstract: The use of vendor managed inventory (VMI) approach has been increasingly implemented in recent years, especially in the healthcare industry. It causes by cost-ineffectiveness and uncertain information both qualitative and quantitative data. To deal with these obstacles, a hybrid multi-criteria decision making (MCDM) method for VMI assessment is proposed in this article. This integrated MCDM comprises DEMATEL-based analytic network process (DANP) method in order to investigate the relationship among readiness criteria, and to construct the complex evaluation system. Finally, the modified VIKOR is used to evaluate the criteria that influence the adoption of VMI. Based on empirical case study for hospitals in Thailand, the result shows that provincial hospital has the highest potential readiness in VMI adoption, followed by university hospital and private hospital. Besides, the priority criteria improvements of each hospital are quite different, which the findings should assist hospital managers to pay an attention to the readiness assessment before VMI adoption. Keywords: analytic network process; ANP; decision making trial and evaluation laboratory; DEMATEL; DEMATEL-based ANP; DANP; multi-criteria decision making; MCDM; vendor managed inventory; VMI; Vlse Kriterijumska Optimizacija I Kompromisno Resenje; VIKOR. DOI: 10.1504/IJMDM.2019.10021559
An integrated approach of fuzzy AHP and fuzzy TOPSIS in modelling contractual design of supply chain inventory coordination mechanism by Mukesh Kumar, Dixit Garg, Ashish Agarwal Abstract: In recent decades, firms are facing the challenges of lack of inventory coordination issues in multi echelon inventory coordination environment. Contractual design of supply chain inventory coordination mechanism (SCICM) are necessary for effective and efficient SCM and not merely better profit distribution within supply chain trading partners (SCTPs), but effective coordination mechanism is key necessity for complex supply flow network. SC structure consists of SV and MB, SC for a multi products flow network considered. SCTPs can be coordinated by better contractual design for perfect SCICM. These criteria are namely controllable lead time and asymmetric information; common replenishment epoch; inventory-level-dependent demand rate; VMI system with stock-out cost sharing; sales rebate contract and VMI. FAHP and FTOPSIS approaches can be used to integrate more consistent evaluation and prioritisation of SCTPs based on five SCICM criterion determined by factor analysis of survey data and expert opinion of retail industry. FAHP is used to calculate relative weight of each SCICM criteria and SCP is ranked based on closeness coefficient. Calculated for each partners are using FTOPSIS. Keywords: supply chain inventory coordination; SCIC; vendor managed inventory; VMI; supply chain trading partners; SCTPs; fuzzy logic; fuzzy analytical hierarchy process; FAHP; fuzzy TOPSIS. DOI: 10.1504/IJMDM.2019.10019476