An integrated fuzzy MCDM approach for risk evaluation of new product in a pipe industry

Ehsan Pourjavad and Wei Peng

International Journal of Product Development, 2017, vol. 22, issue 3, 165-188

Abstract: New Product Development (NPD) process is recognised as one important competitive advantage for most companies which include high risk and uncertainty. Hence, this study aims at accelerating new product introduction and improving the quality of decision-making in NPD process under risks and uncertain conditions. This paper suggests an integrated framework based on the Fuzzy Analytic Hierarchy Process (AHP) and the Fuzzy Technique for Order Performance by Similarity to Ideal Solution (TOPSIS), to evaluate new products in a fuzzy environment where the vagueness and subjectivity are handled with linguistic values parameterised by triangular fuzzy numbers. The Fuzzy AHP is implemented to calculate weights of the risk criteria, and the Fuzzy TOPSIS method is applied to obtain a final ranking. Finally, the proposed approach is implemented for NPD evaluation of a pipe and fitting industry. The results reveal the supply risks have the highest effect on risk evaluation of new products.

Keywords: new product; risk; AHP; TOPSIS; fuzzy; risk evaluation. (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=87365 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpdev:v:22:y:2017:i:3:p:165-188

Access Statistics for this article

More articles in International Journal of Product Development from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().