Application of analytical network process for the evaluation of sustainable business practices in an Indian relays manufacturing organization

Abstract

Sustainable business strategies or technologies determine the market dynamism so as to withstand competitiveness. The evaluation of such strategies is a multi-criteria decision making (MCDM) problem. To deal with such problems, analytical hierarchy process (AHP) and analytical network process (ANP) could be deployed. AHP considers the distribution of goal amongst the elements being compared and judges the element which has the greater influence on the goal. In order to overcome the drawbacks with AHP, ANP could be used which is a holistic approach in which all attributes and alternatives involved are connected in a network system that accepts dependencies. Priorities which are established in ANP are the same way as they are in the AHP using pair wise comparisons and judgments. ANP is the most comprehensive framework for the analysis of societal, governmental and corporate decisions that are available today to the decision-maker. It is a process that allows one to include all the factors and criteria, tangible and intangible that has an effect on making a best decision. The paper reports a research study that is focused on the selection of the best alternative from the perspective of sustainability for an Indian relays manufacturing organization.