A Supplier Selection using an Extension of MCDM Models
Published: 2014
Author(s) Name: Mohammad Azadfallah |
Author(s) Affiliation: Researcher, Business Studies and Development Office, Saipa yadak (Saipa After sale services), Iran.
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Abstract
Supplier selection is a multiple criteria decision-making (MCDM) problem, which is affected by several conflicting factors. When
alternatives are compared on several criteria and their weight aggregated, their ranks can change when alternatives are added or deleted. If a method does allow it to happen, the validity of the method could be questioned. However, some recent studies showed that rank reversals could also happen because people may reverse their preferences caused by some emotional feelings, like regret and rejoicing. Some experimental studies confirm that for most individuals regret has the greater impact. Therefore, the application of the new MCDM method based on regret in supplier selection problem is the aim of this paper. The result (in consistent to published studies: Wang, 2008) showed that the emotional feeling (regret) can greatly influenced in people preferences.
Keywords: MCDM, Supplier Selection Problem, Regret
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