scholarly journals A Hybrid MCDM Approach to Transshipment Port Selection

Pomorstvo ◽  
2018 ◽  
Vol 32 (2) ◽  
pp. 258-267 ◽  
Author(s):  
Matthew Sumner ◽  
Igor Rudan
Keyword(s):  
Optimal Solution ◽  
Business Environment ◽  
Decision Makers ◽  
Selection Problem ◽  
Local Economies ◽  
Substantial Impact ◽  
Bee Colony ◽  
Port Selection ◽  
Expert Analysis ◽  
Chain Problem

Port selection is an intrinsic supply-chain problem that has substantial impact on development of local economies. Shipping business environment developed into complex system where decision making is derived from uncertain and incomplete data. In this study we present a conceptual integrated Multi-Criteria Decision solution to transshipment port selection problem based on Best-Worst MCDM and Artificial Bee Colony Algorithm. Through literature review and expert analysis, 50 relevant criteria have been identified as relevant to the transshipment port selection problem. Decision makers within liner shipping companies evaluate transshipment port selection criteria and establish ranking that is used to determine crisp solution with lowest consistency ratio. ABC based algorithm is used to reduce computational complexity and deliver a single optimal solution by solving both objective and constraint violation functions.

scholarly journals A Model for Sorting Activities to Be Outsourced in Civil Construction Based on ROR-UTADIS

2016 ◽  
Vol 2016 ◽  
pp. 1-15 ◽  
Author(s):  
Rachel Perez Palha ◽  
Adiel Teixeira de Almeida ◽  
Luciana Hazin Alencar
Keyword(s):  
Supply Chain ◽  
Decision Makers ◽  
Selection Problem ◽  
Sorting Method ◽  
Preference Information ◽  
Selection Processes ◽  
Chain Problem

The subcontractor’s selection problem is currently treated as a supply chain problem with a prequalification procedure to balance the main objectives of the client: cost, quality, and time. Unfortunately, most of the selection processes are analysed under the same methodology without considering that variations in project, type of activity, and other attributes should affect the chosen method. To provide a novel form of treating subcontractor’s selection, we proposed an additive sorting method to categorize activities to be outsourced in civil construction based on ROR-UTADIS method, which is a modification of the UTADIS method that includes new forms of supplying preference information. It was applied in the construction of a brewery in Brazil. It was perceived that the method is applicable and intuitive for decision makers, even though there are quite a few points to be taken, analysed to avoid misclassification.

Burma Drinx Group (A): Strategizing for CEO Succession in a Family Business

2021 ◽  
Vol 10 (1) ◽  
pp. 16-32
Author(s):  
Daniel Degravel ◽  
Christina Hui Min Tun
Keyword(s):  
Family Business ◽  
Large Family ◽  
Asian Country ◽  
Business Environment ◽  
Decision Makers ◽  
External Information ◽  
Ceo Succession ◽  
Academic Literature ◽  
Group A ◽  
Evolving Context

Burma Drinx Group, a large family-owned conglomerate in Myanmar, an Asian country in economic and political transition, is about to reinvent itself to achieve success and adaptation to its evolving context. Based on internal and external information about the firm, the case states the challenges and issues that Burma Drinx Group (thereafter BDG) is experiencing as a family-owned conglomerate operating in a ‘non-friendly’ business environment and in a turbulent political and economic context. It focuses on the group CEO Aung Win’s succession. The reader is invited to understand the specificities of BDG’s internal environment, and to manage the idiosyncrasies of this family business conglomerate regarding CEO Win’s succession. Beyond the succession issue, BDG’s decision-makers face critical challenges for the future and have to make bold and courageous decisions to build on the success of the organization. The case proposes a consulting-case style where analysis and reflection are required to understand the challenges and to provide relevant solutions to the top management of the company. Material from the academic literature about succession is offered as a resource to the reader.

scholarly journals The Simulation Design of Microwave Absorption Performance for the Multi-Layered Carbon-Based Nanocomposites Using Intelligent Optimization Algorithm

Nanomaterials ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 1951
Author(s):  
Danfeng Zhang ◽  
Congai Han ◽  
Haiyan Zhang ◽  
Bi Zeng ◽  
Yun Zheng ◽  
...  
Keyword(s):  
Layer Structure ◽  
Optimal Solution ◽  
Single Layer ◽  
Simulation Design ◽  
Wide Bandwidth ◽  
Abc Algorithm ◽  
Bee Colony ◽  
Absorbing Material ◽  
Important Means ◽  
Carbon Based

The optimal design objectives of the microwave absorbing (MA) materials are high absorption, wide bandwidth, light weight and thin thickness. However, it is difficult for single-layer MA materials to meet all of these requirements. Constructing multi-layer structure absorbing coating is an important means to improve performance of MA materials. The carbon-based nanocomposites are excellent MA materials. In this paper, genetic algorithm (GA) and artificial bee colony algorithm (ABC) are used to optimize the design of multi-layer materials. We selected ten kinds of materials to construct the multi-layer absorbing material and optimize the performance. Two algorithms were applied to optimize the two-layer MA material with a total thickness of 3 mm, and it was found that the optimal bandwidth was 8.12 GHz and reflectivity was −53.4 dB. When three layers of MA material with the same thickness are optimized, the ultra-wide bandwidth was 10.6 GHz and ultra-high reflectivity was −84.86 dB. The bandwidth and reflectivity of the optimized material are better than the single-layer material without optimization. Comparing the GA and the ABC algorithm, the ABC algorithm can obtain the optimal solution in the shortest time and highest efficiency. At present, no such results have been reported.

Precision Power System Harmonic Analysis Algorithm Based on ABC-BPNN

2013 ◽  
Vol 483 ◽  
pp. 630-634
Author(s):  
Shu Chuan Gan ◽  
Ling Tang ◽  
Li Cao ◽  
Ying Gao Yue
Keyword(s):  
Neural Network ◽  
Power System ◽  
Harmonic Analysis ◽  
Bp Neural Network ◽  
Artificial Bee Colony Algorithm ◽  
Artificial Bee Colony ◽  
Optimal Solution ◽  
Bee Colony ◽  
Network Algorithm ◽  
Neural Network Algorithm

An algorithm of artificial colony algorithm to optimize the BP neural network algorithm was presented and used to analyze the harmonics of power system. The artificial bee colony algorithm global searching ability, convergence speed for the BP neural network algorithm for harmonic analysis is easy to fall into local optimal solution of the disadvantages, and the initial weights of the artificial bee colony algorithm also greatly enhance whole algorithm model generalization capability. This algorithm using MATLAB for Artificial bee colony algorithm and BP neural network algorithm simulation training toolbox found using artificial bee colony algorithm to optimize BP neural network algorithm converges faster results with greater accuracy, with better harmonic analysis results.

scholarly journals The Global Sustainability Index: An Instrument For Assessing The Progress Towards The Sustainable Organization

2015 ◽  
Vol 67 (1) ◽  
pp. 215-220 ◽  
Author(s):  
Valentin Grecu
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Optimal Solution ◽  
Decision Makers ◽  
Decision Making Process ◽  
Sustainability Index ◽  
Global Sustainability ◽  
Multiple Indicators ◽  
Mathematical Algorithms ◽  
General Indicator

Abstract There is rarely an optimal solution in sustainable development but most frequently a need to build compromises between conflicting aspects such as economic, social and environmental ones and different expectations of stakeholders. Moreover, information is rarely available and precise. This paper will focus on how to use indicators to monitor sustainable development, integrating the information provided by many of them into a complex general sustainability index. Having this general indicator is essential for decision makers as it is very complicated to evaluate the performance of the organization based on multiple indicators. The objective of this paper is to find mathematical algorithms for simplifying the decision-making process by offering an instrument for the evaluation of the sustainability progress.

scholarly journals Evaluation of Criteria for the Implementation of High-Performance Computing (HPC) in Danube Region Countries Using Fuzzy PIPRECIA Method

2020 ◽  
Vol 12 (7) ◽  
pp. 3017 ◽  
Author(s):  
Milovan Tomašević ◽  
Lucija Lapuh ◽  
Željko Stević ◽  
Dragiša Stanujkić ◽  
Darjan Karabašević
Keyword(s):  
High Performance Computing ◽  
High Performance ◽  
Correlation Coefficients ◽  
Business Environment ◽  
Decision Makers ◽  
Fuzzy Environment ◽  
Danube Region ◽  
Criteria Importance ◽  
Importance Assessment ◽  
Performance Computing

The use of computers with outstanding performance has become a real necessity in order to achieve greater efficiency and sustainability for the accomplishment of various tasks. Therefore, with the development of information technology and increasing dynamism in the business environment, it is expected that these computers will be more intensively deployed. In this paper, research was conducted in Danube region countries: Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Germany, Hungary, Moldova, Montenegro, Romania, Serbia, Slovakia, Slovenia, and Ukraine. The aim of the research was to determine what criteria are most significant for the introduction of high-performance computing and the real situation in each of the countries. In addition, the aim was to establish the infrastructure needed to implement such a system. In order to determine the partial significance of each criterion and thus the possibility of implementing high-performance computing, a multi-criteria model in a fuzzy environment was applied. The weights of criteria and their rankings were performed using the Fuzzy PIvot Pairwise RElative Criteria Importance Assessment—fuzzy PIPRECIA method. The results indicate different values depend on decision-makers (DMs) in the countries. Spearman’s and Pearson’s correlation coefficients were calculated to verify the results obtained.

scholarly journals Epistemic Uncertainty Analysis: An Approach Using Expert Judgment and Evidential Credibility

2012 ◽  
Vol 2012 ◽  
pp. 1-8 ◽  
Author(s):  
Patrick Hester
Keyword(s):  
Decision Making ◽  
Probability Theory ◽  
Air Force ◽  
Subject Matter ◽  
Epistemic Uncertainty ◽  
Expert Judgment ◽  
Decision Makers ◽  
Expert Analysis ◽  
Physical Attributes ◽  
The Subject

When dealing with complex systems, all decision making occurs under some level of uncertainty. This is due to the physical attributes of the system being analyzed, the environment in which the system operates, and the individuals which operate the system. Techniques for decision making that rely on traditional probability theory have been extensively pursued to incorporate these inherent aleatory uncertainties. However, complex problems also typically include epistemic uncertainties that result from lack of knowledge. These problems are fundamentally different and cannot be addressed in the same fashion. In these instances, decision makers typically use subject matter expert judgment to assist in the analysis of uncertainty. The difficulty with expert analysis, however, is in assessing the accuracy of the expert's input. The credibility of different information can vary widely depending on the expert’s familiarity with the subject matter and their intentional (i.e., a preference for one alternative over another) and unintentional biases (heuristics, anchoring, etc.). This paper proposes the metric of evidential credibility to deal with this issue. The proposed approach is ultimately demonstrated on an example problem concerned with the estimation of aircraft maintenance times for the Turkish Air Force.

scholarly journals THE ROLE OF TECHNOLOGICAL READINESS IN THE GLOBAL COMPETITIVENESS OF SERBIAN ECONOMY

2018 ◽  
pp. 111 ◽  
Author(s):  
Vladimir Radivojević ◽  
Bojan Krstić ◽  
Tanja Stanišić
Keyword(s):  
Business Environment ◽  
Policy Makers ◽  
Substantial Impact ◽  
Global Competitiveness ◽  
Technological Readiness ◽  
Balkan Countries ◽  
World Economic ◽  
National Economies ◽  
Further Development

Technological readiness is an important determinant of the economic and social development in recent decades. Therefore, technological readiness has a substantial impact on the global competitiveness of national economies in the contemporary business environment. The purpose of this paper is to evaluate the level of Serbian economy competitiveness in terms of technological readiness and to identify the critical factors for its further development. The analysis is based on the data published by World Economic Forum in annual The Global Competitiveness Reports in the period from 2013 to 2017. The research is conducted through comparative analysis and benchmarking method. The results show significant deviations and negative trend of technological readiness of Serbia in comparison not only with European countries but even with Balkan countries. The conclusions of this research may serve as the directions for technological readiness policy makers in Serbia and other Balkan countries.

Wooing the new Chinese businesses: five short-term policies to attract direct investment

2016 ◽  
Vol 37 (5) ◽  
pp. 3-11 ◽  
Author(s):  
Bala Ramasamy ◽  
Matthew Yeung
Keyword(s):  
Direct Investment ◽  
International Investment ◽  
Business Environment ◽  
Decision Makers ◽  
Location Factors ◽  
Policy Makers ◽  
Content Type ◽  
Economic Relationships ◽  
Chinese Companies ◽  
The Usa

Purpose The purpose of this paper is to identify location factors that Chinese managers look for when making internationalization decisions and how the factors stack up in perceived importance. Over the past ten years, Chinese enterprises have become more multi-national in nature. China’s outward foreign direct investment (FDI) has been growing at a phenomenal rate. In 2012, China became the third largest investor, after the USA and Japan; and the largest investor among developing countries. How can host governments attract more of this Chinese capital? What are some short- to medium-term policies that host governments can initiate to make their respective nations attractive to Chinese companies? Design/methodology/approach The authors consider these questions by using a best-worst choice exercise among 114 senior corporate decision makers of Chinese companies who have or are planning to globalize. We rank 16 most common determinants that influence FDI location choice and evaluate their degree of importance. Findings The authors propose five “low hanging fruits” that policy makers should consider that could ensure their countries come within the radar of Chinese multi-nationals. These include promoting a clean and efficient business environment and strengthening/establishing political and economic relationships with China. Originality/value The originality of this study lies in the methodology of the study that forces respondents to make a trade-off in their decisions, which in a way is closer to reality. The respondents are also actual decision makers in their companies with regards to international investment decisions.

ERP Software Selection Based on Intuitionistic Fuzzy VIKOR Method

2019 ◽  
pp. 121-137
Author(s):  
Burak Efe
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Selection Problem ◽  
Final Decision ◽  
Software Selection ◽  
Intuitionistic Fuzzy Numbers ◽  
Fuzzy Vikor ◽  
Intuitionistic Fuzzy ◽  
Erp Software ◽  
Unique Decision

This chapter uses intuitionistic fuzzy VIKOR (IFVIKOR) for the application of ERP software selection. First, priority values of criteria in ERP software selection problem have been determined by using the judgments of the experts. IFWA operator is utilized to integrate the judgments of the experts about the weights of criteria. Then, the result of the IFVIKOR can be employed to define the most appropriate ERP alternative in uncertain environment. Intuitionistic fuzzy numbers are presented in all phases in order to overcome any vagueness in the decision-making process. The final decision depends on the degree of importance of each decision so that wrong degree of importance causes the mistaken result. The researchers generally determine the degrees of importance of each decision makers according to special characteristics of each decision maker as subjectivity. In order to overcome this subjectivity in this chapter, the judgments of decision makers are degraded to unique decision by using the importance degree of each expert. There is no study about ERP software selection using IFVIKOR.

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