Method for Diagnostics and Selection of the Type of Market Structure of Commodity Markets Based on Fuzzy Set Theory

Purpose – Supply chains (SCs) have become increasingly vulnerable to catastrophic events/disruptions that may be natural or man-made. Hurricanes, tsunamis and floods are natural disasters, whereas man-made disasters may be strikes, terrorist attacks, etc. Failure at any point in the SC network has the potential to cause the entire network to fail. SCs must therefore be properly designed to survive well in the disruption scenario. The capability of successful survival (of the firm’s SC) against those adverse events/happenings is termed as resilience; and, the SC designed under resilience consideration is called a resilient SC. Effective supplier selection is considered as a key strategic consideration in SC management. It is felt that apart from considering traditional suppliers selection criterions, suppliers’ resiliency strategy must be incorporated while selecting a potential supplier which can provide best support to the firm even in the disaster/disruption scenario. The purpose of this paper is to focus aspects of evaluation and selection of resilience supplier by considering general as well as resiliency strategy, simultaneously. Design/methodology/approach – In this work, subjectivity associated with ill-defined (vague) evaluation information has been tackled through logical exploration of fuzzy numbers set theory. Application of VIKOR embedded with fuzzy mathematics has been utilized here. Sensitivity analysis has been performed to reflect the effect of decision-makers’ (DM) risk bearing attitude in selecting the best potential supplier in a resilient SC. A case empirical example has also been presented. Findings – The work attempts to focus on a decision-making procedural hierarchy towards effective supplier selection in a resilient SC. The work exhibits application potential of VIKOR method integrated with fuzzy set theory to select potential supplier based on general strategy as well as resiliency strategy. The final supplier selection score (obtained by considering general strategy) and that of obtained by analyzing resiliency strategy have been combined to get a final compromise solution. The decision-support framework thus reported here also considers DMs’ risk bearing attitude. Practical implications – The study bears significant impact to the industry managers who are trying to adapt resiliency strategy in their SC followed by potential supplier selection in the context of resilient SC. Originality/value – Exploration of VIKOR embedded with fuzzy set theory towards suppliers’ evaluation and selection by considering general and resiliency criteria both. The decision-support module(s) adapted in this paper considers DMs’ risk bearing attitude to arrive the best compromise solution.

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Application of GRA method, dynamic analysis and fuzzy set theory in evaluation and selection of emergency treatment technology for large scale phenol spill incidents

10.1063/1.4982437 ◽

2017 ◽

Author(s):

Jingjing Zhao ◽

Lean Yu ◽

Lian Li

Keyword(s):

Dynamic Analysis ◽

Set Theory ◽

Fuzzy Set ◽

Fuzzy Set Theory ◽

Emergency Treatment ◽

Large Scale ◽

Treatment Technology ◽

Selection Of

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The Model for Selection of Innovation and Investment Strategy of Machine-Building Enterprises: Practical Aspect.

Marketing and Management of Innovations ◽

10.21272/mmi.2020.2-05 ◽

2020 ◽

pp. 68-84

Author(s):

Oleg Sorochak ◽

Svitlana Kvak

Keyword(s):

Set Theory ◽

Fuzzy Set ◽

Fuzzy Set Theory ◽

Investment Strategy ◽

Machine Building ◽

Investment Strategies ◽

Low Level ◽

Innovation Potential ◽

Selection Of ◽

Building Enterprises

The article summarizes the arguments within the scientific challenge in choosing the innovation and investment strategy of machine-building enterprises. The main objective of the research is to develop a model for choosing the optimal strategy for innovation and investment development of machine-building enterprises, taking into account their level of investment attractiveness in the market and the level of innovative capacity as well. Systematization of theoretical and methodological material on the model of choosing the innovation and investment strategy of machine-building enterprises has given grounds to conclude that further research is required regarding the modeling issues based on the indicators of a sophisticated analysis of the investment attractiveness of the enterprise and determining its level of innovation potential in order to increase the efficiency of the domestic machine-building enterprises. The relevance of solving this problem is that it is the right choice of a particular type of innovation and investment strategy will help machine-building enterprises to improve the efficiency of their operation and to establish competitive positions in the market. The methodical tools of the research on the model of choosing the innovation and investment strategy are the matrix and convolution methods based on the fuzzy-set theory. The objects of the research JV «Spheros-Elektron» LLC, LEONI Wiring Systems UA GmbH and PJSC «Drohobych Truck Crane Plant» were chosen because they reveal peculiarities of the machine-building enterprises' operation in L'viv region. The paper presented the findings of the choice of appropriate innovation and investment strategies, which showed that PJSC «Drohobych Truck Crane Plant» has entered the zone of application of the strategy of innovation changes and is characterized by both low level of investment attractiveness and low level of the innovative potential. JV «Spheros-Elektron» LLC and LEONI Wiring Systems UA GmbH – both have entered the zone of application of the strategy of differentiation, characterized by an average level of investment attractiveness and a satisfactory level of innovation potential. However, according to the first parameter – the level of investment attractiveness of the company on the market, LEONI Wiring Systems UA GmbH has also approached and is close enough to the application of the opportunistic strategy. The research empirically confirms and theoretically proves that in order to remain on the market of PJSC «Drohobych Truck Crane Plant», it is necessary to modernize the products radically. Furthermore, the main tasks of implementing the differentiation strategy for «Spheros-Elektron» and «LEONI» should be: to invest in the activities of research institutions; to conduct consumer preferences analysis; the analysis of its production capacities; installation of new production lines according to the achievements of the technical progress; production output, which is in demand by the population; holding a capable advertising company. The results of the research can be useful for industrial enterprises in general and machine-building enterprises, in particular. Keywords: fuzzy-set theory, innovation and investment strategies, machine-building enterprise, the model for the selection of the strategy, the strategy of innovation development.

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