Multicriteria ABC Inventory Classification Using a Group Decision Making Method with Individual Preferences

Yang Xu (), Yelin Fu, Yu Chen and Kin Keung Lai ()
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Yang Xu: School of Economics & Management, Xi’an Technological University, Xi’an, P. R. China
Yelin Fu: College of Economics, Shenzhen University, Shenzhen, P. R. China
Yu Chen: Department of Industrial & Manufacturing Systems Engineering, The University of Hong Kong, Hong Kong
Kin Keung Lai: Department of Industrial & Manufacturing Systems Engineering, The University of Hong Kong, Hong Kong

Asia-Pacific Journal of Operational Research (APJOR), 2023, vol. 40, issue 06, 1-19

Abstract: This paper proposes a group decision making model with individual preferences to investigate the multicriteria ABC inventory classification problem. We first propose a preliminary group decision matrix by means of identifying the individual preference among the classification criteria as a typical decision maker; then analyze the endogenous individual preference structure in terms of exploring the preferential difference and preferential priority, a revised group decision matrix is therefore presented; thirdly, make the use of SMAA-2 to derive the holistic acceptability index for classifying the SKUs. A satisfaction index is developed to manifest the merits of proposed method. A numerical illustration using the data drawn from previous studies is performed to indicate the applicability and feasibility of our method.

Keywords: Multicriteria ABC inventory classification; group decision making; individual preference; satisfaction (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1142/S0217595922500361

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