Comparing Supply Chain Risks Ranking in Multi-Attribute Decision-Making Methods Using the Proposed Three-Dimensional Integration Mean Method

M. B. Fakhrzad, Mohammad Reza Firozpour () and Hasan Hosseini Nasab ()
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M. B. Fakhrzad: Department of Industrial Engineering, Yazd University, Yazd, Iran
Mohammad Reza Firozpour: Industrial Engineering, Yazd University, Yazd, Iran
Hasan Hosseini Nasab: Department of Industrial Engineering, Yazd University, Yazd, Iran

Asia-Pacific Journal of Operational Research (APJOR), 2021, vol. 38, issue 06, 1-22

Abstract: Risks play an important role in supply chain vulnerability, performance maintenance, and competitive advantage. Therefore, appropriate risk assessment and ranking are among the top priorities of managers and experts in the supply chain. Because there are several quantitative and qualitative risks in the supply chain, multi-criteria decision-making (MCDM) and, in particular, multi attribute decision making (MADM) methods are used to rank them. Depending on the type of supply chain, the difference in criteria and information available, it is possible to use existing MCDM methods to rank supply chain risks or introduce new methods. In these methods, options are compared on the basis of different criteria according to mathematical methods. Each of these methods uses their own approaches and assumptions. Therefore, there will be different solutions to the ranking. In this case, one or more methods may be selected as the best method. But it cannot be sure that the superior method is chosen correctly. In this paper, decision making methods are compared with each other for an appropriate method to be chosen. Case examples from the related literature have been compared with the proposed method (three-dimensional integrated mean method). To evaluate the validity of the proposed method, the results were sent to experts in various industries along with the proposed method. For analysis the accuracy of experts’ opinions, One-Sample Kolmogorov-Smirnov, Frequencies and Explore tests have been used in SPSS software with 95% confidence level. The obtained results show high reliability of the proposed method for determining an appropriate decision-making method in supply chain risk assessment. However, the proposed method is used for ranking of supplier selection in this paper, but it can be used for many decision-making procedures.

Keywords: Risks ranking; supply chain; decision-making methods; three-dimensional integration mean (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1142/S0217595921500068

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