Fuzzy TOPSIS and fuzzy VIKOR for parameter selection in technological competency

Harpreet Sharma, Chandan Deep Singh and Kanwaljeet Singh

International Journal of Process Management and Benchmarking, 2024, vol. 16, issue 3, 400-413

Abstract: One of the most crucial concerns facing small and medium-sized companies especially in the manufacturing sector is technological competency. Due to the discovery and use of newer technological knowledge, an enterprise's technological competency is evaluated primarily for its ability to deliver products and services in a speedier and higher-quality manner. The multi-criteria decision making (MCDM) technique is applied in this study to evaluate the best technological competence parameters, which serve as the cornerstone for enhancing and improving the performance of manufacturing firms. The ranking of alternatives was determined using fuzzy TOPSIS and fuzzy VIKOR. The proposed MCDM models are a simple, accurate, and effective tool for decision-makers to find the right parameters. If given emphasis, these parameters can improve a company's competitiveness in the marketplace.

Keywords: competencies; fuzzy TOPSIS; fuzzy VIKOR. (search for similar items in EconPapers)
Date: 2024
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