scholarly journals A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER

2019 ◽  
pp. 46-51
Author(s):  
A. O. Matin ◽  
F. Misagh
Keyword(s):  
Decision Making ◽  
Evaluation Criteria ◽  
Specific Weight ◽  
Multi Criteria Decision Making ◽  
Efficient Management ◽  
Research Findings ◽  
Utility Rate ◽  
Input Variables ◽  
Decision Making Model ◽  
Cumulative Entropy

The aim of this research is to evaluate the proposed bids using impartial and entropy weights in a multi-criteria decision-making model. We use matrix data for hypothetical bidding involving nine criteria, with the presence of four domestic and two foreign contractors. Then, using cumulative entropy function, we estimate the entropy weights and use it in a multi-criteria decision-making model. The criteria of experience and knowledge in the field, good history and satisfaction in previous projects, financial and support capabilities, localization of the contractor, having the experience at the site of the project, availability and readiness of equipment and machines, the adequacy of technical staff, the work quality system, the efficient management and appropriate management system, creativity and innovation in similar tasks are the input variables of the decision model. After analyzing them, the proposals are prioritized through a multi-criteria decision-making model. The research findings include Shannon entropy and cumulative entropy-based weights for evaluation criteria and after applying the specific weight for the proposed quotation, the utility rate of each contractor is calculated. The results showed that the use of modified multi-dimensional decision-making method is more advantageous than traditional methods of evaluating bidding proposals in selecting the winner of a tender, and also using cumulative entropy weights in comparison with Shannon's leads to a more realistic choice of contractors.

scholarly journals A Novel Multi-Criteria Decision-Making Model for Building Material Supplier Selection Based on Entropy-AHP Weighted TOPSIS

Entropy ◽  
2020 ◽  
Vol 22 (2) ◽  
pp. 259 ◽  
Author(s):  
Chun-Ho Chen
Keyword(s):  
Decision Making ◽  
Building Material ◽  
Supplier Selection ◽  
Service Providers ◽  
Evaluation Criteria ◽  
Multi Criteria Decision Making ◽  
Topsis Method ◽  
Entropy Weight ◽  
Analytic Hierarchy ◽  
Decision Making Model

The type of criterion weight can be distinguished according to different decision methods. Subjective weights are given by decision makers based on their knowledge, experience, expertise, and other factors. Objective weights are obtained through multi-step calculations of the evaluation matrix constructed from the actual information about the evaluation criteria of the alternatives. A single consideration of these two types of weights often results in biased results. In addition, in order to build an effective supply chain source, buyers must find suitable quality products and/or service providers in the process of supplier selection. Based on the above reasons, it is difficult to accurately select the appropriate alternative. The main contribution of this paper is to combine entropy weight, analytic hierarchy process (AHP) weight, and the technique for order preference by similarity to an ideal solution (TOPSIS) method into a suitable multi-criteria decision making (MCDM) solution. The TOPSIS method is extended with entropy-AHP weights, and entropy-AHP weights are used instead of subjective weights. A novel decision-making model of TOPSIS integrated entropy-AHP weights is proposed to select the appropriate supplier. Finally, we take the selection of building material suppliers as an example and use sensitivity analysis to show that the combination of the TOPSIS method based on entropy-AHP weights can effectively select the appropriate supplier.

Applying the Multi-Criteria Decision Making Model for Ranking Commercial Banks: The Case of Vietnam

2019 ◽  
pp. 125-133
Author(s):  
Duong Truong Thi Thuy ◽  
Anh Pham Thi Hoang
Keyword(s):  
Decision Making ◽  
Commercial Banks ◽  
Decision Model ◽  
Business Models ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Decision Making Model

Banking has always played an important role in the economy because of its effects on individuals as well as on the economy. In the process of renovation and modernization of the country, the system of commercial banks has changed dramatically. Business models and services have become more diversified. Therefore, the performance of commercial banks is always attracting the attention of managers, supervisors, banks and customers. Bank ranking can be viewed as a multi-criteria decision model. This article uses the technique for order of preference by similarity to ideal solution (TOPSIS) method to rank some commercial banks in Vietnam.

scholarly journals Multi-criteria decision-making model for supporting manufacturing settlements location in Africa after COVID-19

2021 ◽  
Vol 13 ◽  
pp. 184797902110233
Author(s):  
Stefania Bait ◽  
Serena Marino Lauria ◽  
Massimiliano M. Schiraldi
Keyword(s):  
Decision Making ◽  
Value Chain ◽  
Multinational Enterprises ◽  
Value Added ◽  
Plant Performance ◽  
Multi Criteria Decision Making ◽  
African Countries ◽  
Analytic Hierarchy ◽  
Location Selection ◽  
Decision Making Model

The COVID-19 emergency is affecting manufacturing industries all over the world. Notably, it has generated several issues in the products’ supply and the global value chain in African countries. Besides this, Africa’s manufacturing value-added rate grew only 1.5 since 2018, and the foreign direct investment (FDI) from multinational enterprises (MNEs) remains very low due to high-risk factors. Most of these factors are linked to a non-optimized location selection that can adversely affect plant performance. For these reasons, supporting decision-makers in selecting the suitable country location in Africa is crucial, both for contributing to countries’ growth and companies’ performance. This research aims at presenting a comprehensive multi-criteria decision-making model (MCDM) to be used by MNEs to evaluate the best countries to develop new manufacturing settlements, highlighting the criteria that COVID-19 has impacted. Thus, it has affected countries’ performance, impacting the plant location selection choices. A combination of the Analytic Hierarchy Process (AHP) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) methods have also been used for comparative analysis. The criteria used in the proposed approach have been validated with a panel of MNEs experts.

scholarly journals Blockchain-Based Trust Management Using Multi-Criteria Decision-Making Model for VANETs

2020 ◽  
Author(s):  
Cong Pu
Keyword(s):  
Decision Making ◽  
Road Safety ◽  
Trust Management ◽  
Detection Rate ◽  
Smart Devices ◽  
Multi Criteria Decision Making ◽  
Trust Value ◽  
Safety Message ◽  
Embedded Sensing ◽  
Decision Making Model

<p>Recent advancements in embedded sensing system, wireless communication technologies, big data, and artificial intelligence have fueled the development of Internet of Vehicles (IoV), where vehicles, road side unit (RSUs), and smart devices seamlessly interact with each other to enable the gathering and sharing of information on vehicles, roads, and their surrounds. As a fundamental component of IoV, vehicular networks (VANETs) are playing a critical role in processing, computing, and sharing travel-related information, which can help vehicles timely be aware of traffic situation and finally improve road safety and travel experience. However, due to the unique characteristics of vehicles, such as high mobility and sparse deployment making neighbor vehicles unacquainted and unknown to each other, VANETs are facing the challenge of evaluating the credibility of road safety messages. In this paper, we propose a blockchain-based trust management system using multi-criteria decision-making model, also referred to as Trust<sup>Block</sup><sub>MCDM</sub>, in VANETs. In the Trust<sup>Block</sup><sub>MCDM</sub>, each vehicle evaluates the credibility of received road safety message and generates the trust value of message originator. Due to the limited storage capacity, each vehicle periodically uploads the trust value to a nearby RSU. After receiving various trust values from vehicles, the RSU calculates the reputation value of message originator of road safety message using multi-criteria decision-making model, packs the reputation value into a block, and competes to add the block into blockchain. We evaluate the proposed Trust<sup>Block</sup><sub>MCDM</sub> approach through simulation experiments using OMNeT++ and compare its performance with prior blockchain-based decentralized trust management approach. The simulation results indicate that the proposed Trust<sup>Block</sup><sub>MCDM</sub> approach can not only improve fictitious message detection rate and malicious vehicle detection rate, but also can increase the number of dropped fictitious messages.<br></p>

scholarly journals SOFTWARE SELECTION ON BASE OF SUGENO INTEGRAL

World Science ◽  
2020 ◽  
Author(s):  
Vagif Salimov
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Mutual Influence ◽  
Evaluation Criteria ◽  
Fuzzy Measure ◽  
Multi Criteria Decision Making ◽  
Main Difficulty ◽  
Software Selection ◽  
Sugeno Integral ◽  
Theory Of Fuzzy Sets

The article is devoted to the problem of  software selection. As a rule, this tasks are formalized as models of multi-criteria decision making (MCDM). The peculiarity of this problem is in the fact that the evaluation criteria , is generally defined by linguistic expert. This requires the use of special methods, in particularly, the theory of fuzzy sets. To solve the problem, an approach based on the  a fuzzy measure  was used . In general, a fuzzy measure allows one to take into account the effect of the mutual influence of criteria. The main difficulty lies in identifying this measure. The fuzzy Sugeno measure and  Sugeno integral were used. An example of solving the indicated problem is given.

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