Multi-Criteria Decision Modelling: Applicational Techniques and Case Studies (Science, Technology, and Management)

This book examines Multi-Criteria Decision Modelling (MCDM) methodologies and facilitates diverse ways for strategic decision-making in a variety of practical applications. This book also provides a pragmatic foundation for solving real-life problems in different scenarios of emerging global markets. Multi-Criteria Decision Modelling: Applicational Techniques and Case Studies depicts the use of sensitivity analysis and modelling and includes case studies to understand and illustrate challenging concepts. It also offers step-by-step comprehensive methodologies for the utilization of MCDM to a variety of situations. The book deliberates ways for companies to use these methods to their advantage in order to achieve sustainability. Furthermore, it also presents an overview of the major streams of thought and provides a holistic view of the latest research and development trends in modelling and optimization. FEATURES Offers a stepwise comprehensive methodology for the application of MCDM to a variety of situations Presents an overview of the major streams of thought present in the MCDM technique Provides a holistic view of the latest research and development trends in the emerging markets in terms of modelling and optimization using MCDM for different industrial sectors Illuminates a practical foundation in order to provide a guide to address the problems of emerging markets Enlightens the ways for companies to use these methods to their advantage to be able to achieve sustainability This book is a guide for those performing decision analysis for academic purposes as well as for researchers aspiring to expand their knowledge on MCDM problem solving. Multi-Criteria Decision Modelling Cover -1 Half Title 2 Series Page 3 Title Page 4 Copyright Page 5 Contents 6 Preface 8 Editors 10 Contributors 14 1. Structural Modelling for the Factors of Facility Management in the Healthcare Industry Using the TISM Approach 18 1.1 Introduction 19 1.2 Identification of the Factors Affecting Facility Management in the Healthcare Sector 19 1.2.1 Organisational Structure Design 20 1.2.2 Talent Management 20 1.2.3 Conflict Management 20 1.2.4 Inter-Connectivity Management 21 1.2.5 Enterprise-Wide Integration of Learning 21 1.2.6 Customer Feedback Management 21 1.2.7 Market Awareness 21 1.2.8 External Collaborations 22 1.2.9 IT Tools/Technologies Adoption 22 1.2.10 Patient Assumption and Hospital Discernment 22 1.3 Methodology 22 1.3.1 Identified Factors Affecting Facility Management in Healthcare Organisations 23 1.3.2 TISM Analysis 24 1.4 MICMAC Analysis 27 1.4.1 The Development of the MICMAC Graph 27 1.4.2 Development of MICMAC Rank 28 1.5 Result and Discussion 28 1.6 Conclusion 31 References 32 Annexure I 33 2. Assessment of Optimum Automotive Brake Friction Formula by Entropy-VIKOR Technique 40 2.1 Introduction 40 2.2 Formulation of Composition and Testing 43 2.3 Optimization 43 2.4 Elementary/Preliminary Structure 45 2.4.1 Describing PAC, Alternatives, and Forming a Decision Matrix (DM) 45 2.4.2 Computation of Entropy (hi) 46 2.4.3 Determination of Criteria Weight 47 2.5 Ranking with VIKOR 47 2.5.1 Utility Measure 47 2.5.2 Regret Measure 48 2.5.3 VIKOR Index Ωj 48 2.6 Results and Discussion 49 Conclusions 56 References 58 3. Ranking of Phase Change Materials for Medium Temperature Thermal Energy Accumulation System Using Shannon Entropy, TOPSIS, and VIKOR Methods 60 3.1 Introduction and Background 61 3.2 Materials and Methods 63 3.2.1 Definition 63 3.2.2 Multi-Criteria Decision-Making Methods 64 3.2.2.1 Criteria Weighting 64 3.2.2.2 TOPSIS Method 65 3.2.2.3 VIKOR Method 65 3.3 Findings and Discussion 66 3.3.1 Criteria Weighting 66 3.3.2 TOPSIS Method 67 3.3.3 VIKOR Method 68 3.4 Conclusion and Suggestions 69 References 70 Annexures A-1: Thermo-Physical Properties of the Candidate Organic PCM 73 Annexure A-2: Ranking of Candidate Organic PCM Based on the TOPSIS Method 75 Annexure A-3: Ranking of Candidate Organic PCM Based on the VIKOR Method 78 4. Identification and Analysis of Enablers of Socially Sustainable SMEs Using the MCDM Approach 82 4.1 Introduction 82 4.2 Review of Literature 84 4.2.1 SMEs 84 4.2.2 ISM Application 85 4.2.3 Economic, Innovation, and Leadership Dimensions 86 4.3 Research Methodology 86 4.3.1 Identification of Factors 86 4.3.2 ISM Methodology 88 4.4 Case Background 90 4.4.1 Case Description 91 4.5 Results and Discussion 92 4.6 Conclusion 95 4.7 Managerial Implication 96 References 96 5. Application of the MCDM Technique for an Astute Decision-Making Process in the Renewable Energy Sector 100 5.1 Introduction 100 5.2 Multi-Criteria Decision-Making Methods in Energy 103 5.3 Application of MCDM Methods for Energy Selection and Decision-Making Policies 104 5.3.1 Analytic Hierarchy Process (AHP) 105 5.3.2 Analytic Network Process (ANP) 106 5.3.3 Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) 107 5.3.4 ELimination Et Choix Traduisant la REalité (ELECTRE) 107 5.3.5 Preference Ranking Organization Method for Enrichment of Evaluations (PROMETHEE) 108 5.3.6 Combined Method Style Approach 109 5.4 Scrutiny Analysis of Papers about Energy Management in Policy-Making 110 5.5 Conclusion 112 References 118 6. Assessing Challenges in the Implementation of Sustainable Human Resource Management Using the Fuzzy DEMATEL Approach 124 6.1 Introduction 124 6.2 Literature Review 126 6.2.1 Sustainable HRM 126 6.2.2 Sustainable Supply Chain Management 126 6.2.3 Integration of HRM Practices and SCM 126 6.2.4 Challenges and Issues in Implementing Sustainability 127 6.3 Methodology 128 6.3.1 Fuzzy DEMATEL Approach 128 6.3.2 Problem Environment 130 6.3.3 Numerical Illustration 131 6.4 Discussion and Conclusion 131 References 135 7. A Novel Entropy Measure for Linguistic Intuitionistic Fuzzy Sets and Their Application in Decision-Making 138 7.1 Introduction 138 7.2 Literature Review 139 7.2.1 Preliminaries 140 7.2.2 A Novel Entropy Measure for LIFS 142 7.3 MCDM Approaches Based on the Proposed EM 146 7.4 Comparative Study 150 7.5 Conclusion 151 References 151 8. An Insight into Decision-Making Using the Fuzzy Analytic Hierarchy Process (FAHP) 156 8.1 Introduction 156 8.2 Complexity of Analysis 157 8.3 Data Collection and Fuzzy Logic 161 8.4 Decision-Making with the Analytic Hierarchy Process 168 8.5 Conclusion 170 References 170 9. Application of the Fuzzy Analytic Hierarchy Process for Solar Panel Vendor Selection 172 9.1 Introduction 172 9.2 Evaluation Model for the Solar Panel Module 173 9.3 The Hierarchical Structure 174 9.4 Determination of Criteria and Sub-Criteria Weights 175 9.5 Critical Weight of Manufacturers, Experts, and Users 186 9.6 Evaluator's Estimation of the Performance of the Alternatives 186 9.7 Ranking of the Alternatives 190 9.8 Conclusion 192 References 193 10. Using Multi-Criteria Decision-Analysis to Build a Long-Term Business Strategy 196 10.1 Introduction 196 10.2 Connecting MCDA with Strategic Components 198 10.3 Strategic Decision-Making through Scenario Planning 199 10.4 The Proposed Two-Step Process of Validating a Strategy 202 10.5 Systems Thinking and Strategic Decision-Making 203 10.6 Conclusion 204 Note 204 References 205 11. Systematic Review and Deliberation of Various Multi-Criteria Decision-Making Techniques 206 11.1 Introduction 206 11.2 Analytical Hierarchy Process (AHP) 208 11.2.1 Gradation 1 Inaugurate Gradation for the "Criteria and Alternatives" 208 11.2.2 Gradation 2 Create a Couple-Wise Desertion Decision Matrix (M) 209 11.2.3 Gradation 3 The Matrix is Normalized and Prioritized to Get the Respective Weights of Criteria 210 11.2.4 Gradation 4 Evaluate the Reliability of the Judgements to Confirm the Outcome 210 11.3 Analytical Network Process (ANP) 212 11.4 Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) 213 11.5 Vlse Kriterijumska Optimizcija I KaompromisnoResenje (VIKOR) 215 11.6 ELimination Et Choix Traduisant la REalité (ELECTRE) 215 11.7 Fuzzy Logic 216 11.8 Conclusion 217 References 217 Index 222 MCDM;,AHP;,Analytical,Hierarchy,Process;,MOORA,Analysis;,VIKOR,Analysis;,Multi-Objective,Optimization,Method,by,Ratio,Analysis; MCDM,AHP,Analytical Hierarchy Process,MOORA Analysis,VIKOR Analysis,Multi-Objective Optimization Method by Ratio Analysis "This book examines Multi-Criteria Decision Modelling (MCDM) methodologies and facilitates diverse ways for strategic decision-making in a variety of practical applications. This book also provides a practical foundation for solving real-life problems in different scenarios of emerging global markets. It depicts the use of sensitivity analysis and modelling, including case studies to understand and illustrate challenging concepts. It also offers step-by-step comprehensive methodologies for the application of MCDM to a variety of situations. The book covers ways for companies to use these methods to their advantage in order to achieve sustainability. It also presents an overview of the main streams of thought and provides a holistic view of the latest research and development trends in modelling and optimization. This is a guide for those performing decision analysis for academic purposes as well as for researchers wanting to expand their knowledge on MCDM problem solving"-- Provided by publisher This book examines Multi-Criteria Decision Modelling (MCDM) and facilitates diverse ways for it to be a useful tool for strategic decision making. It provides a practical foundation and can be used in addressing the problems of emerging markets to show ways for a company to use these methods in order to achieve sustainability.