A Novel Axial-Distance-Based Aggregated Measurement (ADAM) Method for the Evaluation of Agri-Food Circular-Economy-Based Business Models

Mladen Krstić, Giulio Paolo Agnusdei (), Snežana Tadić, Milovan Kovač and Pier Paolo Miglietta
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Mladen Krstić: Department of Biological and Environmental Sciences and Technologies, University of Salento, Via Monteroni snc, 73100 Lecce, Italy
Giulio Paolo Agnusdei: Department of Biological and Environmental Sciences and Technologies, University of Salento, Via Monteroni snc, 73100 Lecce, Italy
Snežana Tadić: Logistics Department, Faculty of Transport and Traffic Engineering, University of Belgrade, Vojvode Stepe 305, 11000 Belgrade, Serbia
Milovan Kovač: Logistics Department, Faculty of Transport and Traffic Engineering, University of Belgrade, Vojvode Stepe 305, 11000 Belgrade, Serbia
Pier Paolo Miglietta: Department of Biological and Environmental Sciences and Technologies, University of Salento, Via Monteroni snc, 73100 Lecce, Italy

Mathematics, 2023, vol. 11, issue 6, 1-27

Abstract: Multicriteria decision making (MCDM) is a field that helps decision makers evaluate alternatives based on multiple criteria and encompasses scoring, distance-based, pairwise comparison, and outranking methods. Recent developments have aimed to solve specific problems and overcoming the limitations of previous methods. This paper proposes a new axial-distance-based aggregated measurement (ADAM) method, which is used in combination with the best-worst method (BWM) to evaluate agri-food circular economy (CE)-based business models (BMs) to create a more sustainable and efficient system for producing and consuming food. This paper proposes nine BMs, which were evaluated against eight criteria. The BWM method was used to obtain the criteria weights, while the ADAM method was used to obtain a final ranking of the BMs. The results indicate that a sustainable circular agri-food supply chain is a BM that can bring companies the most significant progress in business and strengthen their position in the market. We concluded that the ADAM method is effective for solving MCDM problems and that, overall, the model is an effective tool for solving the problem defined in this study. The main contributions are the development of a new MCDM method and a hybrid model, the establishment of the framework for evaluation and selection of CE-based BMs, and the identification of the most important ones.

Keywords: multicriteria decision-making (MCDM); axial distance-based aggregated measurement (ADAM); best-worst method (BWM); circular economy (CE); business model (BM); agri-food (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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