Combined Multi-Criteria Decision Making Approach Based on MACBETH and MULTI-MOORA Methods

Journal Title: Alphanumeric Journal - Year 2016, Vol 4, Issue 1

Abstract

Various Multi-Criteria Decision Making (MCDM) methods have been developed to support decision making process. The main aim of all MCDM methods is to obtain ranking of the alternatives and select the best one under conflicting criteria. In this paper, a combined MCDM approach is proposed based on MACBETH (Measuring Attractiveness by a Categorical Based Evaluation TecHnique) and MULTI-MOORA (Multi Objective Optimization on the basis of Ratio Analysis) methods. In this combined approach, the weights of the criteria are determined with MACBETH method and then MULTI-MOORA method is used to obtain the final ranking of the alternatives. At the end of the paper, to illustrate the applicability of the proposed approach an application of the automobile selection of a marble company is also given.

Authors and Affiliations

Nilsen Kundakcı

Keywords

Related Articles

Non-routine Works Occur from Aviation Man-hour Estimation: Real-time Applications in Job Cards

The measurement of non-routine operations, as well as routine works, are important in aircraft maintenance operations. Therefore the total workload which made routinely has became with packages in aircraft maintenance. H...

Comparison of Individual Pension System and Bank’s Deposit System for Low-Risk Investors

The individual pension system (IPS) is an investment tool with regular payments that provides necessary savings for better live in retirement period. The demand for the IPS are substantially increased in recent years wit...

Process Capability And Price Evaluation Chart For A Pharmaceutical Company

Supplier selection is a critical decision process in a company. Since, gaining a competitive advantage is a great challenge in today’s economy; firms need a well-managed supply chain to compete in these circumstances. Su...

Money - Physical Capital Nexus: How Valid Is McKinnon Complementarity Hypothesis In Turkish Economy?

According to theory of financial liberalization that emphasizes money and physical capital complementarity, increase in real interest rate following liberalization leads to money demand and investment. Validity of this a...

Energy Saving In Continuous Annealing Line Using Heating Optimization

Energy consumption of Iron and Steel Industry sector in Turkey has the highest share in final energy consumption. In the globalized world, day by day, worsening of the conditions of competition and negative environmental...

Download PDF file
  • EP ID EP196720
  • DOI 10.17093/aj.2016.4.1.5000178402
  • Views 144
  • Downloads 0

How To Cite

Nilsen Kundakcı (2016). Combined Multi-Criteria Decision Making Approach Based on MACBETH and MULTI-MOORA Methods. Alphanumeric Journal, 4(1), 17-26. https://europub.co.uk./articles/-A-196720