Development prioritization through analytical hierarchy process (AHP) - decision making for port selection on the one belt one road

2019 ◽  
Vol 12 (3) ◽  
pp. 121-150
Author(s):  
Omar Khalid Bhatti ◽  
Ali Raza Hanjra
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Analytic Hierarchy ◽  
Content Type ◽  
One Belt One Road ◽  
Port Efficiency ◽  
Port Selection ◽  
The One ◽  
Gilgit Baltistan ◽  
Hierarchy Process

Purpose This paper aims to attempt to investigate if the now-existing upstream Sost Dry Port in Gilgit-Baltistan and the prospective midstream Havelian Dry Port in Khyber Pakhtunkhwa, both part of One Belt One Road (OBOR), are expected to compete against or complement each other in terms of port efficiency and location, and which of the two ports should first be developed in the wake of uninterrupted logistics flow of cargo on the Economic Corridor. Design/methodology/approach Analytic hierarchy process (AHP) has been used for multi-criteria decision making by the stakeholders. Five main criteria for transhipment port selection, ranging from port location, port efficiency, intermodal connectivity, port costs and cargo volume were used with three sub-criteria each. Findings This study demonstrates the results that favour physical infrastructural development initiatives prioritized for the Sost Dry Port in view of its strategic location as the upstream supply chain node on the Economic Corridor, imparting efficiency to the logistics flow. Practical implications Results of this study may assist policymakers in achieving goals like enhancing trade facilitation, reducing congestion and increasing cargo security on OBOR. Originality/value To the best of the authors’ knowledge, this is the first study of its kind that analyzes priority for immediate development intervention for either Sost or Havelian Dry Port, both located on CPEC – OBOR supply chain.

Evaluation of behavioral biases affecting investment decision making of individual equity investors by fuzzy analytic hierarchy process

2019 ◽  
Vol 12 (3) ◽  
pp. 297-314 ◽  
Author(s):  
Jinesh Jain ◽  
Nidhi Walia ◽  
Sanjay Gupta
Keyword(s):  
Decision Making ◽  
Behavioral Finance ◽  
Investment Decision ◽  
Investment Decisions ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Behavioral Biases ◽  
Investment Decision Making ◽  
Overconfidence Bias ◽  
Hierarchy Process

Purpose Research in the area of behavioral finance has demonstrated that investors exhibit irrational behavior while making investment decisions. Investor behavior usually deviates from logic and reason, and consequently, investors exhibit various behavioral biases which impact their investment decisions. The purpose of this paper is to rank the behavioral biases influencing the investment decision making of individual equity investors from the state of Punjab, India. This research would provide valuable insight into the different behavioral biases to investors and other participants of the capital market and help them in improving investment decisions. Design/methodology/approach The research is conducted on the individual equity investors of Punjab, India. Fuzzy analytic hierarchy process was applied to rank the factors influencing the decision making of individual equity investors of Punjab. The primary factors considered for the study are overconfidence bias, representative bias, anchoring bias, availability bias, regret aversion bias, loss aversion bias, mental accounting bias and herding bias. Findings The three most influential criteria were herding bias, loss aversion bias and overconfidence bias. The five most influential sub-criteria were “I readily sell shares that have increased in value (C61),” “News about the company (Newspapers, TV and magazines) affects my investment decision (C84),” “I invest each element of my investment portfolio separately (C71)” and “I usually hold loosing stock for long time, expecting trend reversal (C52).” Research limitations/implications Although sample survey conducted in the present study was based on a limited sample selected from a particular area that truly represented the total population, it is considered as the limitation of this study. Practical implications The outcome of this research provides investors with a better understanding of behavioral biases that influence their decision making. This study provides them a guideline on different behavioral biases that they should consider while making investment decisions. Originality/value The research model is based on the available literature on behavioral finance and the research results and findings would add value to the existing knowledge base.

scholarly journals Applying the Analytical Hierarchy Process (AHP) into the effects assessment of river training works

2017 ◽  
Vol 35 (1) ◽  
pp. 63-72 ◽  
Author(s):  
Justyna Hachoł ◽  
Mateusz Hämmerling ◽  
Elżbieta Bondar-Nowakowska
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Optimal Solution ◽  
River Regulation ◽  
Analytic Hierarchy ◽  
The Sustainable Development ◽  
River Bed ◽  
River Training ◽  
The One ◽  
Hierarchy Process

AbstractThe aim of the following study was to compare a few methods of river regulations and indicate the one which fully meets technical regulative standard and concurrently ensures protection of the watercourse ecosystem. According to the sustainable development rules it is of the most importance in every human activity to compromise between developmental and environmental needs of current and future generations. Therefore, both technical criteria related to flood safety and environmental ones were taken into consideration in the analysis. Field study was conducted in vegetation stage between 2008 and 2014 in small and medium lowland watercourses in Lower Silesia. The research comprised of measurements and descriptions of selected technical and environmental elements of a complex system of the watercourse river bed. Basing on obtained results a multicriterial assessment of the effects of the works was conducted. In order to assess the results an Analytic Hierarchy Process (AHP) was used in the study. It facilitated the creation of linear ranking of river beds and indicate the most optimal solution in terms of sustainable development. Such methods have not been applied in solving problems connected with river regulation. That’s why this study aims also at checking the utility of this method in decision making in both planning and regulation works realization. Results of the study indicate high usefulness of AHP method in the decision-making process.

An integrated AHP and ISO14000, ISO26000 based approach for improving sustainability in supply chains

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Faisal Talib ◽  
Saheim K Josaiman ◽  
Mohd. Nishat Faisal
Keyword(s):  
Supply Chain ◽  
Analytic Hierarchy Process ◽  
Supply Chains ◽  
Design Methodology ◽  
Multi Criteria Decision Making ◽  
Manufacturing Companies ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Hierarchy Process ◽  
Practical Implications

PurposeTypically, adoption of sustainability in organizations are often done in an unstructured way without the consideration of other partners in the supply chain. The purpose of this paper is to suggest a coherent plan to improve sustainability in the supply chains utilizing ISO standards for environment and social responsibility.Design/methodology/approachThis paper draws on literature on ISO14000 and ISO26000 to derive a set of variables applicable to supply chains, which are then prioritized for real organizations utilizing analytic hierarchy process.FindingsThe findings highlight that not all the variables of environmental, social and economic responsibility are equally important. Besides, the work reported in this paper justifies the application of multi-criteria decision-making (AHP) to prioritize elements of sustainability in context supply chains. The suggested method is illustrated using inputs from large manufacturing companies in Qatar.Practical implicationsISO14000 and ISO26000 are well known standards; however, there was no effort to integrate these standards to improve sustainability in supply chains. The suggested methodology provides invaluable help to the managers to implement sustainability in a coherent manner across the supply chain.Originality/valueThe research contributes to the extant literature by proposing a new methodology based on the integration of three-approaches: Analytic Hierarchy Process, ISO14000 and ISO26000 systems.

scholarly journals A decision-making methodology integrated in product design for additive manufacturing process selection

2020 ◽  
Vol 26 (5) ◽  
pp. 895-909
Author(s):  
Wei Liu ◽  
Zicheng Zhu ◽  
Songhe Ye
Keyword(s):  
Decision Making ◽  
Additive Manufacturing ◽  
Product Design ◽  
Production Costs ◽  
Process Selection ◽  
Analytic Hierarchy ◽  
Content Type ◽  
The Given ◽  
Hierarchy Process ◽  
Am Processes

Purpose The decision-making for additive manufacturing (AM) process selection is typically applied in the end of the product design stages based upon an already finished design. However, due to unique characteristics of AM processes, the part needs to be designed for the specific AM process. This requires potentially feasible AM techniques to be identified in early design stages. This paper aims to develop such a decision-making methodology that can seamlessly be integrated in the product design stages to facilitate AM process selection and assist product/part design. Design/methodology/approach The decision-making methodology consists of four elements, namely, initial screening, technical evaluation and selection of feasible AM processes, re-evaluation of the feasible process and production machine selection. Prior to the design phase, the methodology determines whether AM production is suitable based on the given design requirements. As the design progresses, a more accurate process selection in terms of technical and economic viability is performed using the analytic hierarchy process technique. Features that would cause potential manufacturability issues and increased production costs will be identified and modified. Finally, a production machine that is best suited for the finished product design is identified. Findings The methodology was found to be able to facilitate the design process by enabling designers to identify appropriate AM technique and production machine, which was demonstrated in the case study. Originality/value This study addresses the gap between the isolated product design and process selection stages by developing the decision-making methodology that can be integrated in product design stages.

A model for supply chain risk management in the automotive industry using fuzzy analytic hierarchy process and fuzzy TOPSIS

2018 ◽  
Vol 25 (9) ◽  
pp. 3831-3857 ◽  
Author(s):  
Samira Salehi Heidari ◽  
Mohammad Khanbabaei ◽  
Majid Sabzehparvar
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Analytic Hierarchy Process ◽  
Organizational Performance ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Performance Factors ◽  
Hierarchy Process

Purpose One of the most important issues in supply chain (SC) management is the identification and management of the risk involved in it. The purpose of this paper is to propose a comprehensive model of supply chain risk management (SCRM) in the product life cycle (PLC) and the operational process cycle (OPC). To decrease the risks in a fuzzy environment, the model considers the organizational performance factors (OPF) and the risk operational practices (ROP). Design/methodology/approach Fuzzy analytic hierarchy process is used to determine the weights of the relationships between the PLC, OPC and OPF in the hierarchical structure of the decision problem. In addition, the fuzzy technique for order preference by similarity to ideal solution is employed to recognize the priority of ROPs in dealing with the performance factors. The integrated framework is evaluated using the case study of an automotive company in Iran. Findings The results demonstrated that the proposed model can be used to formulate an appropriate method for prioritizing defined alternatives to decrease risk and improve the organizational performance in SCRM under fuzzy conditions. Research limitations/implications A major limitation of the study is that a few of the selected criteria for risk assessment are focused only on economic factors. Another limitation of the current study is related to the PLC, OPC and OPF being based on the work of Xia and Chen (2011). Practical implications The current study identified the more important stage in the PLC. More significant process in each stage of the PLC and weightier risk factors in each process of the OPC were determined. Some strategies for reducing risk in each stage of the PLC were presented. The best alternatives for reducing risks in SC were indicated. Originality/value It is worth mentioning that previous studies have not applied multiple criteria and alternatives to decrease the risks involved in the PLC and OPC parts of the SC under fuzzy conditions. However, it should be stated that some academics have used these techniques separately, in other specialized areas of the SC.

Improving risk evaluation in FMEA with a hybrid multiple criteria decision making method

2015 ◽  
Vol 32 (7) ◽  
pp. 763-782 ◽  
Author(s):  
Hu-Chen Liu ◽  
Jian-Xin You ◽  
Xue-Feng Ding ◽  
Qiang Su
Keyword(s):  
Decision Making ◽  
Failure Modes ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Analytic Hierarchy ◽  
Effect Analysis ◽  
Maintenance Strategies ◽  
Content Type ◽  
Safety And Reliability ◽  
Hierarchy Process

Purpose – The purpose of this paper is to develop a new failure mode and effect analysis (FMEA) framework for evaluation, prioritization and improvement of failure modes. Design/methodology/approach – A hybrid multiple criteria decision-making method combining VIKOR, decision-making trial and evaluation laboratory (DEMATEL) and analytic hierarchy process (AHP) is used to rank the risk of the failure modes identified in FMEA. The modified VIKOR method is employed to determine the effects of failure modes on together. Then the DEMATEL technique is used to construct the influential relation map among the failure modes and causes of failures. Finally, the AHP approach based on the DEMATEL is utilized to obtain the influential weights and give the prioritization levels for the failure modes. Findings – A case study of diesel engine’s turbocharger system is provided to illustrate the potential application and benefits of the proposed FMEA approach. Results show that the new risk priority model can be effective in helping analysts find the high risky failure modes and create suitable maintenance strategies. Practical implications – The proposed FMEA can overcome the shortcomings and improve the effectiveness of the traditional FMEA. Particularly, the dependence and interactions between different failure modes and effects have been addressed by the new failure analysis method. Originality/value – This paper presents a systemic analytical model for FMEA. It is able to capture the complex interrelationships among various failure modes and effects and provide guidance to analysts by setting the suitable maintenance strategies to improve the safety and reliability of complex systems.

Fuzzy analytic hierarchy process model for multi-criteria analysis of internet of things

Kybernetes ◽  
2019 ◽  
Vol 49 (10) ◽  
pp. 2509-2520
Author(s):  
Ibrahim Mashal ◽  
Osama Alsaryrah
Keyword(s):  
Decision Making ◽  
Internet Of Things ◽  
Process Model ◽  
Fuzzy Model ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Iot Applications ◽  
Effective Decision Making ◽  
Application Developers ◽  
Hierarchy Process

Purpose Nowadays, there are various internet of things (IoT) applications covering many aspects of daily life. Many people own numerous smart objects that use these IoT applications. The purpose of this study is determining suitable IoT applications for each user which is a relevant challenge because it is amulti-criteria decision-making. Design/methodology/approach To solve this challenge, the authors propose fuzzy analytical hierarchy process model. Based on the opinions of IoT experts, the model and the hierarchy were designed to assess and compare three crucial IoT criteria, namely, object, application and providers. Findings The results indicated that the application criterion is far more relevant for users other than the two criteria. The findings of this study offer insights into more effective decision-making for IoT application developers and providers. Originality/value This study contributes to the IoT through proposing a fuzzy model to classify IoT applications. The findings provide meaningful implications for IoT application providers.

Supporting decision-making in service supplier selection using a hybrid fuzzy extended AHP approach

2017 ◽  
Vol 23 (1) ◽  
pp. 196-222 ◽  
Author(s):  
Giustina Secundo ◽  
Donato Magarielli ◽  
Emilio Esposito ◽  
Giuseppina Passiante
Keyword(s):  
Decision Making ◽  
Analytic Hierarchy Process ◽  
Fuzzy Set ◽  
Supplier Selection ◽  
Hybrid Approach ◽  
High Tech ◽  
Manufacturing Companies ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Hierarchy Process

Purpose Service supplier selection is a multi-criteria decision-making (MCDM) problem assuming a strategic role for the competitiveness of high-tech manufacturing companies. Nevertheless, especially for service quality evaluation, there is little empirical evidence of the practical usefulness of MCDM methodologies. Aiming to cover this gap between theoretical approaches and empirical applications, the purpose of this paper is to propose a fuzzy extended analytic hierarchy process (FEAHP) approach for service supplier evaluation. Design/methodology/approach A hybrid approach which combines some of the strengths of the analytic hierarchy process (AHP) and of the fuzzy set theory is presented, as organized into five steps. A case study is used to evaluate the applicability in a real company context. Findings The usability of the approach is demonstrated in an aerospace company for solving the supplier selection problem of a business software whose applications are still in infancy: a Test Data Management System (TDMS). The illustrative application contains both “general” criteria to be used for other service supplier selection contexts as well as service-specific criteria related to software selection. Research limitations/implications Even if the application regards the selection of a software supplier, the methodology can be generically extended to other services’ selection in complex manufacturing industries through the personalization of some criteria. Practical implications Implications can be derived both for business managers involved into the decision-making process and for suppliers identifying the most promising features of software quality. Originality/value The originality consists in the combination into a hybrid approach of the strong points of the AHP with the fuzzy set; the inclusion of multiple perspectives of decision criteria for service supplier selection, basically the “software product” and “supplier” ones; a real empirical application to test and demonstrate the efficacy and the practical utility of the proposed approach.

Use of AHP in decision-making for machine tool configurations

2016 ◽  
Vol 27 (6) ◽  
pp. 874-888 ◽  
Author(s):  
Uday Hameed Farhan ◽  
Majid Tolouei-Rad ◽  
Adam Osseiran
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Pairwise Comparison ◽  
Assessment Process ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Four Levels ◽  
Time Required ◽  
Hierarchy Process ◽  
Selection Of

Purpose The purpose of this paper is to develop a model of analytic hierarchy process (AHP), a multiple criteria decision-making method, to assist selecting suitable machine configurations for special purpose machines (SPMs) from available alternatives. Design/methodology/approach The necessary criteria and sub-criteria were identified and used in the developed model. The assessment process was carried out by constructing the hierarchy of four levels. Then, pairwise comparison matrices were created for each level to compute the weights for the alternatives. The model was programmed and implemented by software for practical use. Findings Different scenarios were obtained from the assessment process of the developed AHP model showing the influence of changing the relevant importance of the elements in the hierarchy on the selection of SPMs configurations. Selection of the suitable scenario was also affected by some factors of manufacturing preferences and industry recommendations such as cost and production rate. Originality/value This is a new application of AHP method which assists decision makers to select suitable configurations for SPMs, and reduce the time required for designing SPMs.

Developing an analytic hierarchy process-based decision model for modular construction in urban areas

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Sing ◽  
Joseph Chan ◽  
Henry Liu ◽  
Nancy Hei Ngai
Keyword(s):  
Decision Making ◽  
Urban Area ◽  
Urban Areas ◽  
Modular Construction ◽  
Analytic Hierarchy ◽  
Content Type ◽  
Decision Making Factors ◽  
Decision Making Model ◽  
Hierarchy Process ◽  
Decision Making Tool

Purpose Modular construction is considered a well-established construction method for improving the efficiency of the construction industry worldwide. However, the industry struggles to achieve higher levels of modularisation in urban areas. Previous studies on decision-making for modularisation have, so far, not focussed much on its application in urban areas. As modular construction could bring lots of advantages such as speed of construction, This study aims to develop a decision-making tool that can assist the project planners in deciding whether the modular construction techniques should be applied in their urban area project. Design/methodology/approach Based on the literature review, a total of 35 decision-making factors of modularisation were identified for this study. The decision-making model is then developed to evaluate the significance of each factor using the analytic hierarchy process (AHP) approach. A total number of 72 valid responses were obtained and analysed. The geometric mean of priorities is adopted to obtain the par-wise comparison between the critical factors in which each factor’s weighting in the decision-making model is calculated. Afterwards, the robustness of the decision-making model is demonstrated by the real-life projects in China, Hong Kong and the UK, respectively. Findings A total of 35 decision-making factors allocated in five criteria for modular construction selection in urban areas were identified. The criteria include site attributes, project characteristics, labour consideration, environmental and organisation and project risk. Their impact was calculated using the AHP to indicate the relative importance with respect to the adoption of modularisation in urban areas. Afterwards, a two-level decision-making model was developed that can be used as a decision-making tool for the adoption of modular construction. Practical implications The outcome of this research will be beneficial to industrial practitioners and academics in understanding the critical attributes that affect the adoption of modular construction in an urban area. It further enables the building professionals to assess the feasibility of using modular construction in their projects, especially at the early stage, so as to facilitate its use. Originality/value There is a number of literature on the decision-making model on the adoption of modular construction. However, previous studies did not provide specific concerns related to urban areas, whereas there is an urgent need to have an updated analysis that can be catered to the modular construction in the urban area. In this research study, the 35 decision-making factors were ranked by the experienced project managers and then a pair-wise comparison was conducted. With this information, the robust decision-making model is formulated to offer a kept promised indicator in adopting modularisation in the urban area.

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