Oil project selection in Iran: A hybrid MADM approach in an uncertain environment

Yazdi, Amir Karbassi; Komijan, Alireza Rashidi; Sardar, Soheila

doi:10.1016/j.asoc.2020.106066

Cited by 44 publications

(23 citation statements)

References 35 publications

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“…It does not seem that individual conditions can do anything in apprehension of anticipated perceptions; therefore, the additional investigation can be appropriate for this merging procedure as a malleable method for other situations. In accretion, a recent revision vs. exercise could emphasize a legitimate understanding of other MCDM techniques comprising ARAS, ANP, and PROMETHEE in order to accrue the absolute dream of different consequences [68,[122][123][124]. e baseline contribution areas are first; this study manifested exploration-exploitation and deliberated all various manufacturing strategy characteristics and CSFs, which becomes incredibly substantial in turbulent times for the Islamic Republic of Iran.…”

Section: Discussion and Contributionsmentioning

confidence: 99%

Critical Success Factors for Competitive Advantage in Iranian Pharmaceutical Companies: A Comprehensive MCDM Approach

Yazdi

Muneeb

Figueiredo

et al. 2021

Mathematical Problems in Engineering

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The unprecedented COVID-19 outbreak strengthened the critical manifestation of the rapid development vs. survival for pharmaceutical companies, deploying strategic conduct worldwide. This study therefore explores the endogenous relationship among pharmaceutical companies’ manufacturing strategy and their performance indicators within the ambit of creating a long-lasting competitive advantage in turbulent times. Very often, it is not possible to launch a cause-effect relationship between performance and their drivers. To achieve this end, multiple-criteria decision-making (MCDM) techniques are employed in a hybrid fashion in this study. The notion has simultaneously ranked critical success factors (CSFs) in the manufacturing strategy and performance indicators in the limelight of managerial perceptions, while controlling the inherent bias concerning the causality direction in the ambit of these two entrenched concepts. A case study on the Iranian pharmaceutical companies is piloted to demonstrate this hybrid-fashion multifarious approach. Overall, the results revealed the most pertinent CSFs that reached superior-performance echelons in the Islamic Republic of Iran.

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Section: Discussion and Contributionsmentioning

confidence: 99%

Critical Success Factors for Competitive Advantage in Iranian Pharmaceutical Companies: A Comprehensive MCDM Approach

Yazdi

Muneeb

Figueiredo

et al. 2021

Mathematical Problems in Engineering

Self Cite

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“…Such uncertainty of weight of the factors influences the quality of project selection. In this uncertain situation, the Fuzzy set theory might be used as a useful tool (Liang et al , 2019; Yazdi et al , 2020; Ma et al , 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Application of fuzzy TOPSIS framework for selecting complex project in a case company

Shamsuzzoha

Piya

Shamsuzzaman

2021

JGOSS

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Purpose This study aims to propose a method known as the fuzzy technique for order preference by similarity to ideal solution (fuzzy TOPSIS) for complex project selection in organizations. To fulfill study objectives, the factors responsible for making a project complex are collected through literature review, which is then analyzed by fuzzy TOPSIS, based on three decision-makers’ opinions. Design/methodology/approach The selection of complex projects is a multi-criteria decision-making (MCDM) process for global organizations. Traditional procedures for selecting complex projects are not adequate due to the limitations of linguistic assessment. To crossover such limitation, this study proposes the fuzzy MCDM method to select complex projects in organizations. Findings A large-scale engine manufacturing company, engaged in the energy business, is studied to validate the suitability of the fuzzy TOPSIS method and rank eight projects of the case company based on project complexity. Out of these eight projects, the closeness coefficient of the most complex project is found to be 0.817 and that of the least complex project is found to be 0.274. Finally, study outcomes are concluded in the conclusion section, along with study limitations and future works. Research limitations/implications The outcomes from this research may not be generalized sufficiently due to the subjectivity of the interviewers. The study outcomes support project managers to optimize their project selection processes, especially to select complex projects. The presented methodology can be used extensively used by the project planners/managers to find the driving factors related to project complexity. Originality/value The presented study deliberately explained how complex projects in an organization could be select efficiently. This selection methodology supports top management to maintain their proposed projects with optimum resource allocations and maximum productivity.

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“…The MCDM methods are most used techniques for dealing with complex problems related to weighting, prioritizing and ranking factors. MCDA techniques have been achieved optimal results in different areas such as supplier selection (Wu et al, 2019), raw material selection (Çalıs ¸kan et al, 2013) and project selection (Yazdi et al, 2020). The literature provides numerous MCDA approaches such as Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), multi-criteria optimization and compromise solution (VIKOR), Decision Making Trial and Evaluation Laboratory (DEMATEL), Evaluation based on Distance from Average Solution (EDAS), Analytic Hierarchy Process (AHP), Best and Worst Method (BWM), Weighted Product Method (WPM),Generally, the performances of MCDM approaches are judged based on expert's opinion, simplicity of the method and the application time (Chatterjee et al, 2011), because it is very difficult to choose the best and the suitable MCDM methods to resolve a studied Multi-criteria decision-making problem Framework for sustainable manufacturing (Mousavi-Nasab and Sotoudeh-Anvari, 2017;Sun and Li, 2010).…”

Section: The Performance Of Mcdm Approachesmentioning

confidence: 99%

Benchmarking framework for sustainable manufacturing based MCDM techniques

Aouag

Mohyeddine

Abdessamed

2021

BIJ

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PurposeThe purpose of this paper is to develop a model for sustainable manufacturing by adopting a combined approach using AHP, fuzzy TOPSIS and fuzzy EDAS methods. The proposed model aims to identify and prioritize the sustainable factors and technical requirements that help in improving the sustainability of manufacturing processes.Design/methodology/approachThe proposed approach integrates both AHP, Fuzzy EDAS and Fuzzy TOPSIS. AHP method is used to generate the weights of the sustainable factors. Fuzzy EDAS and Fuzzy TOPSIS are applied to rank and determine the application priority of a set of improvement approaches. The ranks carried out from each MCDM approach is assessed by computing the spearman's correlation coefficient.FindingsThe results reveal the proposed model is efficient in sustainable factors and the technical requirements prioritizing. In addition, the results carried out from this study indicate the high efficiency of AHP, Fuzzy EDAS and Fuzzy TOPSIS in decision making. Besides, the results indicate that the model provides a useable methodology for managers' staff to select the desirable sustainable factors and technical requirements for sustainable manufacturing.Research limitations/implicationsThe main limitation of this paper is that the proposed approach investigates an average number of factors and technical requirements.Originality/valueThis paper investigates an integrated MCDM approach for sustainable factors and technical requirements prioritization. In addition, the presented work pointed out that AHP, Fuzzy EDAS and Fuzzy TOPSIS approach can manipulate several conflict attributes in a sustainable manufacturing context.

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Oil project selection in Iran: A hybrid MADM approach in an uncertain environment

Cited by 44 publications

References 35 publications

Critical Success Factors for Competitive Advantage in Iranian Pharmaceutical Companies: A Comprehensive MCDM Approach

Critical Success Factors for Competitive Advantage in Iranian Pharmaceutical Companies: A Comprehensive MCDM Approach

Application of fuzzy TOPSIS framework for selecting complex project in a case company

Benchmarking framework for sustainable manufacturing based MCDM techniques

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