A novel hierarchical ranking method for idea screening in new product development

Mahesh Caisucar and Rajesh Suresh Prabhu Gaonkar

International Journal of Business Excellence, 2024, vol. 33, issue 4, 585-601

Abstract: Idea screening is an important stage in the NPD process involving lot of uncertainty causing elements and hence a structured approach like multi-criteria decision-making (MCDM) techniques is required to select the best alternative among available alternatives. The available MCDM methods do not consider the relative importance of all alternative ratings in the decision-making process. This paper proposes a new hierarchical ranking method to select the best alternative by taking in to account the relative weightage of each of alternative rating. The uniqueness of the method lies in the fact that, to get the global weightage for each alternative rating against criteria, the effect of sum of all the alternative rating is taken except for the one under consideration. Case study in manufacturing industry is taken to validate the method using COPRAS G.

Keywords: new product development; multi-criteria decision-making; MCDM; ranking method; COPRAS G; fuzzy TOPSIS. (search for similar items in EconPapers)
Date: 2024
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