scholarly journals Development Of Multi-Criteria Decision Making Model In Packed Beverage Industry Using Global Criterion Method

OPSI ◽  
2021 ◽  
Vol 14 (2) ◽  
pp. 197
Author(s):  
Sutrisno Sutrisno ◽  
Puryani Puryani
Keyword(s):  
Decision Making ◽  
Multi Criteria Decision Making ◽  
Beverage Industry ◽  
Global Criterion ◽  
Global Criterion Method ◽  
Decision Making Model ◽  
Criterion Method

scholarly journals Global criterion formation in producer’s decisions

2014 ◽  
Vol 6 (1) ◽  
pp. 102-114
Author(s):  
Yury Vasilyevich Krivolutskiy ◽  
Elena Yuryevna Zakharova
Keyword(s):  
Decision Making ◽  
Human Resources ◽  
Weight Coefficient ◽  
Mathematical Methods ◽  
Main Attention ◽  
Optimum Range ◽  
Global Criterion ◽  
Global Criterion Method ◽  
Pros And Cons ◽  
Criterion Method

This article delves into decision making in producers activity under shortage of financials, materials and human resources. Every decision to be made is generally a multicriterial task. At the same time these criteria are controversial: amelioration of one criterion leads to degradation of another. That is why solution finding with the use of mathematical methods is worth to consider. Hereafter theoretical stuff and practical exemplification of decision making under multicriterial conditions are presented. In many mathematical methods of decision making multicriterial task is simplified to one criterion. Therefore the main attention is paid to global criterion method, providing a means to define optimum out of several criteria. The point of the method assumes to weigh up the initial criteria and create a single global criterion, serving as a key to decision making. The weight coefficient of each criterion is defined by experts. There are several methods of combining criteria. Nevertheless in practice three methods are used: criteria relation, criteria multiplication and criteria summing up. The methods are analyzed and practical examples are shown in the article. Other approaches to combining criteria are also examined. It is generally agreed that every method of decision making has its own pros and cons, which in turn define the optimum range of its application.

scholarly journals Development of Multi-Criteria Decision Making Model in the Packaged Beverage Industry to Minimize Production Costs and Maximize Machine Utility using the Step Method

2021 ◽  
Vol 1 (1) ◽  
pp. 535-544
Author(s):  
Puryani Puryani ◽  
Sutrisno Sutrisno
Keyword(s):  
Decision Making ◽  
Production Costs ◽  
Multi Criteria Decision Making ◽  
Objective Functions ◽  
Step Method ◽  
Trade Off ◽  
Use Of Resources ◽  
Beverage Industry ◽  
Decision Making Problem ◽  
Decision Making Model

The packaged beverage industry has grown rapidly. Now a packaged beverage industry has emerged with various brands. The emergence of many competitors, requires the packaged beverage industry to implement a strategy to survive and win the competition. One of these strategies is to make savings and maximize the use of resources. The savings made are contradictory problems with maximizing the use of resources, this is due to the use of resources, for example, the use of machines will require operational costs, even though the industry must make savings.The problem above is a multi-criteria decision making problem. Multi-criteria decision-making problems are characterized by conflicting goals on a problem to be resolved. The meaning of conflicting goals is that optimizing the value of one objective function will reduce the level of optimality of the other objective functions. One of the savings in an industry is to minimize production costs, while maximizing the use of resources, one of which can be done by maximizing machine utility. To increase the competitiveness of the packaged beverage industry, it is necessary to minimize production costs while maximizing machine utility. This can be done if the company's management implements policies to optimally achieve the two contradictory company goals. Optimization of contradictory or conflicting company goals is a multi-criteria decision-making problem. To facilitate company management in making decisions on conflicting company goals, it is necessary to develop a multi-criteria decision-making model. In this study, a multi-criteria decision-making model will be developed to optimize two conflicting objectives, namely minimizing production costs and maximizing machine utility, with limitations in the form of company resources to achieve these goals. To optimize the multi-criteria decision-making model developed using the step method. The advantage of this method when compared to other multi-criteria decision-making techniques is the iteration in determining the value of the trade-off (simultaneous search for optimal values of two conflicting objective functions). If the determination of the value of the trade-off in an iteration does not satisfy the decision maker, then the alternative value of the trade-off can be found by doing the next iteration. Optimization of the multi-criteria decision-making model will result in minimal production costs and maximum machine utility. The multi-criteria decision-making model that was developed also resulted in a production plan that was in accordance with the number of consumer demands. In addition, the production planning carried out will also be in accordance with the capacity of the warehouse, because the model developed takes into account the capacity of the warehouse.

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>

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