Reliability-based decision making for selection of ready-mix concrete supply using stochastic superiority and inferiority ranking method

Jui-Sheng Chou and Citra Satria Ongkowijoyo

Reliability Engineering and System Safety, 2015, vol. 137, issue C, 29-39

Abstract: Corporate competitiveness is heavily influenced by the information acquired, processed, utilized and transferred by professional staff involved in the supply chain. This paper develops a decision aid for selecting on-site ready-mix concrete (RMC) unloading type in decision making situations involving multiple stakeholders and evaluation criteria. The uncertainty of criteria weights set by expert judgment can be transformed in random ways based on the probabilistic virtual-scale method within a prioritization matrix. The ranking is performed by grey relational grade systems considering stochastic criteria weight based on individual preference. Application of the decision aiding model in actual RMC case confirms that the method provides a robust and effective tool for facilitating decision making under uncertainty.

Keywords: Multi-criteria decision analysis; Supply chain management; Ready-mixed concrete; Stochastic process; Superiority and inferiority ranking (SIR) model (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:137:y:2015:i:c:p:29-39

DOI: 10.1016/j.ress.2014.12.004

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