An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods

Amir Karbassi Yazdi, Yong Tan, Cristi Spulbar (), Ramona Birau () and Jorge Alfaro
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Amir Karbassi Yazdi: School of Engineering, Universidad Católica del Norte, Larrondo 1281, Coquimbo 1781421, Chile
Yong Tan: School of Management, University of Bradford, Bradford BD7 1DP, UK
Ramona Birau: Doctoral School of Economic Sciences, University of Craiova, 200585 Craiova, Romania
Jorge Alfaro: School of Engineering, Universidad Católica del Norte, Larrondo 1281, Coquimbo 1781421, Chile

Mathematics, 2022, vol. 10, issue 18, 1-20

Abstract: The oil and gas industry plays a significant role in the economies of many countries today. Due to various factors, including oil price fluctuations, wars, sanctions, and many other instances, selling and supplying these products at low prices is necessary. As a result, the global economy may suffer as well. Supply chain management is one way to reduce the prices of these products. This study was conducted to identify supply chain management contracts in the oil and gas industry. The paper presents an application of multi-criteria decision-making (MCDM) for coping with uncertainty. We contribute to the literature by proposing a new hybrid MCDM method with gray numbers for ranking supply chain management contracts in the oil and gas industry. The results show that the factors for evaluating supply chain management contracts must be selected, and then according to these factors, the supply chain management contracts must be chosen. As a result, we provide our customers with the best deals and help oil and gas companies minimize their costs.

Keywords: contract selection; supply chain management (SCM); best–worst method (BWM); measurement of choices and their ranking as a compromise solution (MARCOS) method; gray number (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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