VIKOR and its Applications

Abstract

Recently, Multiple-Criteria Decision Making (MCDM) tools have increasingly been expanded to help researchers and practitioners to evaluate and select the best compromise alternatives. Among popular MCDM methods, Vlsekriterijumska Optimizacija I KOmpromisno Resenje (VIKOR) has attracted much attention to cope with complex problems with conflict factors. The current study conducted a state-of-the-art literature review to embody the research on VIKOR and its applications. The paper structure consists of 198 papers from more than 100 journals and conference proceedings since 2002 which were classified into nine categories: 1) Design and manufacturing management, 2) Business and marketing management, 3) Supply chain and logistics management, 4) Environmental resources and energy management, 5) Construction management, 6) Education management, 7) Health-care and risk management, 8) Tourism management, and 9) Other topics. The last topic contains Information and knowledge management, Mine industry, etc. The study also proposes four classifications: 1) Publication year, 2) Journals, 3) other techniques combined or compared with VIKOR, and 4) Keywords distribution by VIKOR papers specifications. Finally, it was proposed forthcoming areas of study and recommendations for practical means. This study intends to generate insights on decision making techniques.