An integrated fuzzy MCDM approach for risk evaluation of new product in a pipe industry Online publication date: Fri, 13-Oct-2017
by Ehsan Pourjavad; Wei Peng
International Journal of Product Development (IJPD), Vol. 22, No. 3, 2017
Abstract: New Product Development (NPD) process is recognised as one important competitive advantage for most companies which include high risk and uncertainty. Hence, this study aims at accelerating new product introduction and improving the quality of decision-making in NPD process under risks and uncertain conditions. This paper suggests an integrated framework based on the Fuzzy Analytic Hierarchy Process (AHP) and the Fuzzy Technique for Order Performance by Similarity to Ideal Solution (TOPSIS), to evaluate new products in a fuzzy environment where the vagueness and subjectivity are handled with linguistic values parameterised by triangular fuzzy numbers. The Fuzzy AHP is implemented to calculate weights of the risk criteria, and the Fuzzy TOPSIS method is applied to obtain a final ranking. Finally, the proposed approach is implemented for NPD evaluation of a pipe and fitting industry. The results reveal the supply risks have the highest effect on risk evaluation of new products.
Online publication date: Fri, 13-Oct-2017
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Product Development (IJPD):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email email@example.com