Evaluating risk of IoT adoption in the food supply chain using an integrated interval-valued spherical fuzzy generalised TODIM method

Yu Chen, Weizhong Wang, Zhengyan Yang, Muhammet Deveci and Dursun Delen

International Journal of Production Economics, 2024, vol. 277, issue C

Abstract: The existing literature has shown that the Internet of Things (IoT) has proven to be beneficial for managing operations in the food supply chain. However, the potential failures resulting from these new technologies have not been thoroughly examined. Therefore, the aim of this study is to create a new framework for analyzing the risks associated with implementing IoT in the food supply chain. To achieve this, we introduce an extended failure mode and effect analysis framework using an integrated generalised Toma de Decisão Iterativa Multicritério (TODIM) method within the interval-valued spherical fuzzy setting. Initially, we developed a risk structure consisting of four dimensions and sixteen sub-factors to facilitate the implementation of IoT technology in the food supply chain. We then introduced an interval-valued spherical fuzzy-weighted Bonferroni mean operator to gather expert opinions and create a group risk matrix considering the interaction between the input risk data. Subsequently, we proposed a newly developed interval-valued spherical fuzzy TODIM method based on the Logarithmic percentage change-driven objective weighting (LOPCOW) method to evaluate and rank the risks associated with IoT application in the food supply chain. This method can capture the bounded rational decision behavior of experts and the uncertain preference of risk parameters. Based on the identified risk factors, we implemented a proposed risk analysis framework in line with the preferences of the experts. The results indicate that "human resource risk" and "uncertainty in technology adoption" are the most and least significant risks, respectively. We also conducted sensitivity and comparison studies to test the reliability and rationality of the proposed framework. The main findings can assist policymakers and managers in mitigating and minimizing the risks connected with IoT applications in the food supply chain. Additionally, these outcomes can aid stakeholders in making well-informed decisions about resource allocation for risk management.

Keywords: Interval-valued spherical fuzzy set; Generalised TODIM method; Food supply chain; risk evaluation; Decision modelling; Internet of things (IoT) (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:277:y:2024:i:c:s0925527324002433

DOI: 10.1016/j.ijpe.2024.109386

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