Optimal Alternative Selection Using MOORA in Industrial Sector - A

Abstract

Modern manufacturing organizations tend to face versatile challenges due to globalization, modern lifestyle trends and rapid market requirements from both locally and globally placed competitors. The organizations faces high stress from dual perspective namely enhancement in science and technology and development of modern strategies. In such an instance, organizations were in a need of using an effective decision making tool that chooses out optimal alternative that reduces time, complexity and highly simplified. This paper explores a usage of new multi criteria decision making tool known as MOORA for selecting the best alternatives by examining various case study. The study was covered up in two fold manner by comparing MOORA with other MCDM and MADM approaches to identify its advantage for selecting optimal alternative, followed by extending MOORA with interval grey numbers, crisp and interval grey number and whitening coefficient and future scope of the present work concentrate on highlighting the scope and gap between MOORA, Multiplicative form of MOORA(MULTIMOORA) and Multi objective optimization on the basis of simple ratio analysis (MOOSRA) for numerous manufacturing and service applications.