Abstract
In this paper, a decision support methodology for multiple attributes group decision making problem is developed. The proposed methodologies are based on Data Envelopment Analysis (DEA), Grey Relation analysis (GRA) and hybrid GRA-DEA methods. These methods are implemented for evaluation and ranking of organizations in sustainable perspective. In the proposed methods, the payoff values of alternatives are expressed in linguistic terms, given by the decision makers. Then, these linguistic terms are described by triangular fuzzy numbers. Charnes model of DEA is formulated in fuzzy environment to determine efficiencies of DMUs. Following the GRA method’s algorithm, a relative closeness coefficient is defined to determine the ranking order of all alternatives by calculating the distances to the fuzzy positive-ideal solution (FPIS), as well as to the fuzzy negative-ideal solution (FNIS). Also, performance evaluation of these companies is made through hybrid GRA-DEA in fuzzy environment. The weights of the criteria are determined objectively during evaluation of these companies in the proposed GRA and DEA-GRA methods. Comparison of proposed approaches is made and final ranking of the organizations is sustainable perspective is arrived. The proposed methodologies are illustrated with a case study of five steel manufacturing companies in India.
Highlights
It is widely accepted that manufacturing organizations have a vital role to play in the quest for sustainability
Evaluation of performance based on sustainable perspective for a case study of five steel manufacturing organizations is carried out by adopting the proposed methods
Grey Relation analysis (GRA) Method Evaluation of performance based on sustainable perspective for a case study of five steel manufacturing organizations through GRA method and is illustrated below
Summary
It is widely accepted that manufacturing organizations have a vital role to play in the quest for sustainability. Applying performance measurement models to this purpose ensures alignment with a business strategy, which implies that the choice of performance indicators is organization-dependent Such measurement models generally suffer from a lack of guidance regarding the performance indicators that exist and how they can be concretized in practice. In this context, a suitable evaluation of the companies' performance in sustainable perspective is critical for themselves and for their own creditors and investors. The important issue in the evaluation is the development of multiattribute/multi-criteria methods for ranking of organizations in sustainability perspective and the proposition of sustainable performance criteria.
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