A Comparative Study of Integrated FMCDM Methods for Evaluation of Organizational Strategy Development

Abstract

With the globalization of economy and development of technology, organizational strategy development in distribution channel management has become more significant for competitive business world. To improve distribution channel performance, many companies have focused on Multi-Criteria Decision Making (MCDM) methods. In the literature, there are a great number of studies on MCDM and fuzzy MCDM (FMCDM) methods, whereas a few studies on integrated FMCDM methods. The purpose of this study is to propose integrated FMCDM methodology including FAHP, WASPAS-F, EDAS-F and ARAS-F. In these methods, relative importances of the criteria are determined by FAHP. Managerial and financial perspective is determined as the most important criteria by FAHP methods. Then WASPAS-F, EDAS-F and ARAS-F methods are carried out to rank the alternatives. The practical implication of the integrated FMCDM methods is the use of linguistic variables for assessment of the criteria and the alternatives. As a research implication, Hybrid Based Strategy is determined as the best organizational strategy. The originality and value of study is to present comparative analyzes using the newly developed WASPAS-F, EDAS-F and ARAS-F integrated with FAHP methods. An important finding of the study is that the ranking results of the proposed methods are consistent with each other.

An overview of ARAS method: Theory development, application extension, and future challenge

“…Triangular fuzzy set The operation rules in Reference [108] Trapezoidal fuzzy set The operation rule in Reference [100] Gray set The operation rules in Reference [109] Intuitionistic fuzzy set The operation rules in Reference [90] Interval-valued triangular fuzzy set The operation rules in Reference [110] Interval-valued Intuitionistic fuzzy set The operation rules in Reference [111] Interval-valued Pythagorean fuzzy set The operation rules in Reference [112] Hesitant fuzzy linguistic term set The operation rules in Reference [113] Interval type-2 hesitant fuzzy set The operation rules in Reference [114] Rough set The operation rules in Reference [115] Probability multivalued neutrosophic set The operation rules in Reference [116] Z-number The operation rules in Reference [117] Picture fuzzy set The operation rules in Reference [118] information, some researchers converted the linguistic variables to triangular fuzzy number 23,27,29,31,34,41,43,46,48,50,51,60,70,72,76,80,82,84 some converted linguistic variables to gray numbers, 42,58,104 some converted the linguistic variables to rough numbers. 106 In addition, combining with the situation that experts are usually hesitant when giving their evaluations, Liao et al 8 extended the ARAS method to hesitant fuzzy linguistic environment and proposed a BWM-ARAS framework for finance supplier selection in digital supply chain, in which they used the operation rules for hesitan...…”

A Novel Fuzzy SIMUS Multicriteria Decision-Making Method. An Application in Railway Passenger Transport Planning

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Quantitative Assessment of Dynamics of Economic Development in the Countries of the European Union

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