Objective-Subjective CRITIC-MARCOS Model for Selection Forklift in Internal Transport Technology Processes

Huskanović, Eldina; Stević, Željko; Simic, Sanja

doi:10.56578/mits020103

Cited by 8 publications

(4 citation statements)

References 23 publications

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“…The CRITIC technique evaluates all information about the criteria and determines the criterion weights through standard deviation and correlation processes [99][100][101]. This technique provides a more comprehensive result since it takes other criteria into account; thus, this advantage has enabled this technique to be integrated into studies more popularly than other objective techniques.…”

Section: Criteria Importance Through Intercriteria Correlation (Critic)mentioning

confidence: 99%

An Alternative Sensitivity Analysis for the Evaluation of MCDA Applications: The Significance of Brand Value in the Comparative Financial Performance Analysis of BIST High-End Companies

Elma,

Stević,

Baydaş

2024

Mathematics

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Multi-criteria decision analysis (MCDA) applications consist of techniques that enable the decision maker to make clearer decisions in scenarios where there is more than one alternative and criterion. The general approach for sensitivity analysis in MCDA applications implies sensitivity to the weight coefficient. In this study, as an alternative approach, we reinterpret sensitivity by using the statistical relationship between the final ranking produced by an MCDA method and a constant external factor. Thus, we both verify through an anchor and reveal to what extent the change in the weight coefficient changes the external relations of MCDA. The motivation for this study is to propose an alternative sensitivity methodology. On the other hand, brand value is a parameter that contains critical information about the future of the company, which has not integrated into financial performance studies made with MCDAs before. To that end, the financial performance of 31 companies with the highest brand value in Turkey and trading on Borsa Istanbul between 2013 and 2022 was analyzed with seven different MCDA applications via integrating brand value into the criteria for the first time. The study’s findings revealed that the proposed innovative sensitivity tests produced similarly robust results as traditional tests. In addition, brand value has been proved to be an advantageous criterion to be implemented into MCDAs for financial performance problems through the sensitivity analysis made.

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Section: Criteria Importance Through Intercriteria Correlation (Critic)mentioning

confidence: 99%

An Alternative Sensitivity Analysis for the Evaluation of MCDA Applications: The Significance of Brand Value in the Comparative Financial Performance Analysis of BIST High-End Companies

Elma,

Stević,

Baydaş

2024

Mathematics

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“…In this analysis, a total of thirty scenarios were arranged by reducing the weights of the three criteria (PC, EU and MSC) with the highest weights using the following method. Equation (31) , which is used to arrange the scenarios, is presented below ( Huskanović, Stević & Simić, 2023 ; Badi & Elghoul, 2023 ). …”

Section: Applicationmentioning

confidence: 99%

A new integrated rough multi-criteria decision-making model for enterprise resource planning software selection

Cao,

Jin,

Ulutaş

et al. 2024

PeerJ Computer Science

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Enterprise resource planning (ERP) is widely used to boost the total market power of businesses. The wrong selection is one of the key reasons why ERP installations fail. Due to the complexity of the business environment and the range of ERP systems, choosing an ERP system is a complex and time-consuming procedure. ERP alternatives may be assessed using several criteria, so the ERP selection process may be considered a multi-criteria decision-making (MCDM) problem. In this study, the rough best worst method (BWM) was used to determine criteria weights, while the newly developed rough integrated simple weighted sum product (WISP) was used to rank ERP alternatives. Results suggest that the SFT-4 coded software is regarded as the best option, followed by SFT-5, SFT-6, SFT-2, SFT-3, and SFT-1. Results of the newly developed rough WISP method are compared to those of existing rough techniques in the sensitivity analysis. The differences between them have been found to be negligible. The outcomes show how effectively developed rough BWM and WISP integrated method performs in terms of ERP selection with usability, accuracy, ease of use, and consistency. This study will help decision-makers in a context where ERP is implemented choose the best ERP software for different sectors.

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“…They are very important in terms of internal transport, as well as efficiency. The goal and purpose of the paper Huskanović et al [13] was to develop a model that would help in selecting the best solution. The CRITIC method was used to determine the weights of the criteria, while the MARCOS method was used for ranking; i.e., the selection of the most convenient forklift.…”

Section: Literature Reviewmentioning

confidence: 99%

Application of Multi-Criteria Decision-Making Methods in Warehouse: A Brief Review

Taletović

2023

Spec. Eng. Man. Sci.

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This review paper investigates the application of various multi-criteria decision-making (MCDM) methods in the context of warehouse management, considering papers published from 2010 to date. Warehouses often face many challenges, including efficient inventory management, space optimization, proper resource allocation, and optimal supplier selection. This paper focuses on several well-known MCDM methods that are often used in the context of warehouse management. Full consistency method (FUCOM), analytic hierarchy process (AHP), the technique for order of preference by similarity to ideal solution (TOPSIS), weighted aggregated sum product assessment (WASPAS), criteria importance through intercriteria correlation (CRITIC), measurement of alternatives and ranking according to the compromise solution (MARCOS), best worst method (BMW), evaluation based on distance from average solution (EDAS), correlation coefficient and the standard deviation (CCSD), indifference threshold-based attribute ratio analysis (ITARA), and simple additive weighting (SAW) are some of the methods reviewed in the paper, as well as certain fuzzy versions of the methods. This review paper provides a brief comprehensive overview of the application of these methods in the context of warehouse management. Data collection leads to results that tell us that the methods are mainly used in solving problems during the selection of warehouse location, the selection of warehouse equipment, and also in the management of the warehouse itself and the performance of its management. It has also been seen that the methods are useful even in "green" logistics, as well as in inventory management.

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Objective-Subjective CRITIC-MARCOS Model for Selection Forklift in Internal Transport Technology Processes

Cited by 8 publications

References 23 publications

An Alternative Sensitivity Analysis for the Evaluation of MCDA Applications: The Significance of Brand Value in the Comparative Financial Performance Analysis of BIST High-End Companies

An Alternative Sensitivity Analysis for the Evaluation of MCDA Applications: The Significance of Brand Value in the Comparative Financial Performance Analysis of BIST High-End Companies

A new integrated rough multi-criteria decision-making model for enterprise resource planning software selection

Application of Multi-Criteria Decision-Making Methods in Warehouse: A Brief Review

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