WASPAS Method Research Articles

Challenges of Microfinance and Financial Inclusion for Development Using WASPAS Method

Financial inclusion refers to the process of ensuring that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit, and insurance – delivered in a responsible and sustainable way. The concept aims to eliminate the barriers that exclude people from participating in the financial sector, enhancing their ability to improve their economic conditions. Microfinance is a critical tool within the broader financial inclusion agenda. It involves offering financial services to low-income individuals or those who do not have access to typical banking services. These services include microloans, savings accounts, insurance, and money transfers. Microfinance institutions (MFIs) cater to people who are traditionally excluded from the formal banking sector, helping them to start or expand small businesses, manage risks, and improve their quality of life.One of the primary significances of researching financial inclusion and microfinance is their critical role in promoting economic development. By providing access to financial services, individuals and small businesses can engage in economic activities that contribute to the overall growth of their communities and economies. Microfinance allows entrepreneurs to start or expand small businesses, which can lead to job creation and increased productivity. Understanding the mechanisms and impacts of these financial services helps policymakers and stakeholders design better programs to stimulate economic development, particularly in underserved regions. Alternative taken as Program A, Program B, Program C, Program D, Program E. Evaluation Preference taken as Loan Disbursement Rate (%), Client Outreach (thousands), Loan Default Rate (%), Operational Costs (% of budget). The results Program E Advertising achieved the highest rank, while Search Program B received the lowest rank being attained. “The value of the dataset for Financial Inclusion and Microfinance, according to the Weighted Aggregated Sum Product Assessment Program E Advertising achieves the highest ranking.”

Ranking the Performances of Goalkeepers By WASPAS Method: AFC Asian Cup Qatar 2023

This study aims to evaluate and rank goalkeepers’ performances who competed in the Asian Cup Qatar 2023 according to some parameters. The sample size of the study was 22 goalkeepers. Data were obtained from the official website of the Asian Football Confederation (AFC) and Transfermarkt. Criteria used in the analysis to rank the performances of the goalkeepers were save percentage per match, number of catches and punches, and successful passes percentage per match. The criteria were weighted via the ranking method. Five steps of the WASPAS method among multi-criteria decision-making (MCDM) techniques were used to rank goalkeepers. According to the results of the analysis, GKs were ranked from 1 to 22 in terms of their performances, and the mean composite optimal value (Qi) was 0.696. The highest Qi value was 0.866, while the lowest was calculated as 0.310. According to the performance ranking, the top 3 GKs were determined as Rustam Yatimov (Tajikistan), Meshaal Barsham (Qatar), and Mathew Ryan (Australia). On the other hand, the lowest-ranked GKs were determined as Enando Ari (Indonesia), Zion Suzuki (Japan), and Rami Hamada (Palestine). Key Words: Goalkeeper, goalkeeper performance, ranking goalkeeper, WASPAS method, MCDM

Evaluation Challenges of Leadership Management in the Energy Sector using Multi-Criteria Decision Making Approach

Leadership management has various benefits and advantages in the energy sector, such as improving energy sector development and obtaining sustainability benefits. However, the leadership management faces multiple challenges in the energy sector that must be evaluated and ranked. So, this study used the fusion multi-criteria decision-making (MCDM) methodology to assess and rank the challenges of leadership management in the energy sector. The WASPAS method is a fusion MCDM method used to rank the alternatives. Five experts are invited to evaluate the criteria and alternatives. Fourteen criteria and 13 alternatives were collected in this study. The results show that alternative 4 is the best and alternative 8 is the worst. A sensitivity analysis was conducted to show the stability of the alternatives' ranks. The sensitivity analysis was conducted in two parts. In the first part, the lambda value of WASPAS changed between 0 and 1. In the second part, 14 cases are introduced in criteria weights. The results show that the rank of alternatives is stable in different cases.

Multi-criteria decision-making based on Einstein operators, WASPAS method and quadripartitioned single-valued neutrosophic sets

Multi-criteria decision-making based on Einstein operators, WASPAS method and quadripartitioned single-valued neutrosophic sets

Selection Optimal Livestock Location under Multi-Criteria Decision Making Fuzzy Framework

As a primary provider of food resources for humans, the livestock sector is now crucial to achieving the internationally recognized sustainable development goals. General policies are required to direct the cattle business in a sustainable way in terms of the economy, society, and environment. Sustainable development objectives should be included in these strategies, considering unique geographical circumstances and current hazards. The first stage in attaining sustainable growth in the livestock sector is to choose appropriate locations while considering related dangers. This study suggested multi-criteria decision-making (MCDM) methodology for dealing with various conflicting criteria by selecting optimal livestock locations. The MCDM methodology integrated with the trapezoidal fuzzy set to deal with uncertain and vague information. The WASPAS method is used to rank the alternatives. There are 11 criteria, and 10 locations are used in this study. A sensitivity analysis was conducted to show that the results were stable.

Advanced Linguistic Complex T-Spherical Fuzzy Dombi-Weighted Power-Partitioned Heronian Mean Operator and Its Application for Emergency Information Quality Assessment

Against the background of a major change in the world unseen in a century, emergencies with high complexity and uncertainty have had serious impacts on economic security and sustainable social development, making emergency management an important issue that needs to be urgently resolved, and the quality assessment of emergency information is a key link in emergency management. To effectively deal with the uncertainty of emergency information quality assessment, a new fuzzy multi-attribute assessment method is proposed in this paper. First, we propose the linguistic complex T-spherical fuzzy set (LCT-SFS), which can deal with two-dimensional problems and cope with situations in which assessment experts cannot give quantitative assessments. Then, the advanced linguistic complex T-spherical fuzzy Dombi-weighted power-partitioned Heronian mean (ALCT-SFDWPPHM) operator, which incorporates the flexibility of Dombi operations, is proposed. The partitioned Heronian mean (PHM) operator can consider attribute partitioning and attribute correlation, the power average (PA) operator can eliminate the effect of evaluation singularities, and the advanced operator can circumvent the problem of consistent or indistinguishable aggregation results, which provides a strong comprehensive advantage in the evaluating information aggregation. Finally, a fuzzy multi-attribute assessment model is constructed by combining the proposed operator with the WASPAS method and applied to the problem of assessing the quality and sensitivity of emergency information; qualitative and quantitative comparison analyses are carried out. The results show the method proposed in this paper has strong feasibility and validity and can represent uncertainty assessment more flexibly while providing reasonable and reliable results. The method can provide new ideas and methods for the quality assessment of emergency information, and promoting sustainable, efficient, and high-quality development of emergency management.

Integrated Selection of Permanent Teacher Appointments Recommended MCDM-AHP and WASPAS Methods

The teacher's role is very important in improving the national learning system. Many honorary teachers are empowered in curriculum development in a number of schools who want to collaborate in improving the quality of their students. The purpose of this research is to provide rewards to honorary teachers who have long served for the progress of the nation in the world of education to be appointed as permanent teachers. The selection method was carried out through a criteria weighting technique with the MCDM-AHP method which was integrated with the WASPAS method. The technique of developing the MCDM-AHP method as an eigenvector measurement concept with proof of optimization through mathematical algebra matrices that is correlated with the Expert Choice application to get optimal values. The result optimization value is integrated with the WASPAS method as a determinant of the ranking system for permanent teacher candidates. This method is a unification of the concepts of the weight product model and weight sum model methods, so that it has special stages to support decision making with the WASPAS method. The results of selecting twelve honorary teachers for appointment as permanent teachers can be seen from the acquisition of the Qi optimization value as a ranking. The results of support for decision making for permanent teacher appointments with the highest optimization value were given to TC04 with a weight of 0.878; followed by a significant difference in the next rank. The findings of this study provide evidence that the integration of the MCDM-AHP and WASPAS methods provides continuous optimization results for decision-making support.

Financial Performance and Bankruptcy Risk Analysis: An Application on Private Health Insurance Companies in Turkey

This research evaluates the correlation between the financial performances of seven insurance companies operating in Turkey from 2018 to 2022 and their risk of bankruptcy. In the study, data obtained from the year-end financial statements of the companies were used, weights were assigned to the criteria determined by the ENTROPY methodology, and the performance rankings of the companies were obtained using the WASPAS method. The Altman-Z model was applied to determine the risk of bankruptcy. The decisive criteria in the financial performance ranking are profitability ratios such as Asset Profitability, Equity Profitability, and Net Profit Margin. While Turkey Insurance and Anadolu Insurance's leadership positions in the sector were identified, Ray Insurance and Mapfre Insurance were determined as the companies showing the weakest performance. Although the research shows that financial performance affects the risk of bankruptcy, it also reveals that it is not the sole factor in determining the likelihood of bankruptcy. In this context, the evaluation of financial performance in the insurance industry should be considered as part of a more holistic risk assessment approach.

Dharumapuri District, Tamil Nadu, Groundwater Quality Status in relation to WASPAS System Pollution

Groundwater Quality. Tamil Nadu, Dharmapuri District, Domestic and Water quality for irrigation purposes to assess water quality survey has been carried out. PH, TDS, TH, Calcium, Magnesium, Chloride, Sulphate. This paper notes that increasing levels of water pollution, the resulting billion-dollar utility and with control schemes, it provides a way to measure and evaluate the quality of given water body Development of water quality codes is necessary. The data output of current water monitoring stations is huge and Dimensional reporting units are different and Not integrated in a straightforward algebraic way, even by scientifically trained users have few means of integrating the data to provide; water quality. That quality is locally better than hook and line to be broadly defined, Because of the importance of downstream streams less emphasized in that context. Ground water by comparing the measured concentration of ions and other parameters with the suggested limits provided by the Bureau of Indian Standards, the acceptability of the groundwater in this area as drinking water was determined lists the quantity and percentage of samples that exceeded the drinking quality criteria suggested by. The quantities of PH, TDS, TH, calcium, chloride, sulphate, and nitrate as well as total hardness were consistently within suggested levels in the 652 groundwater samples that were collected and analyzed water quality for drinking. MCDM difficulties include many incompatible and conflicting criteria, different measurement units in the criteria, and the existence of completely different alternatives. These decision problems describing multidimensional situations are solved by various MCDM methods. In the WASPAS method, a composite criterion is optimally two based on the criteria sought. The first criterion of optimality via a weighted average success criterion is the WSM method, which is based on the decision criteria used to evaluate the accepted MCDM approach alternatives, such as the popular one. Weighted Aggregate Product Assessment (WASPAS) this method is an effective MCDM tool when solving eight production decision problems, namely grinding level, material depletion. From the result it is seen that Karimangalam Taluk is showing the highest value for Pennagaram Taluk is showing the lowest value. Resulting in Karimangalam Taluk ranked first; there Pennagaram Taluk has low rank.

Exploring the Impact of AI on Candidate Selection: A Two-Phase Methodological Approach with CRITIC-WASPAS

This study investigates how AI technologies can improve the candidate selection process. It will also use the WASPAS method to analyze the criteria used during the selection stages, aiming to optimize the effectiveness of the process. The article employed a two-phase methodological approach to enhance candidate selection analysis. The CRITIC Method assigned weights to criteria, while the WASPAS Method ranked alternatives based on these weights. A sensitivity analysis, specifically for the WASPAS method, further assessed its robustness and consistency, providing a comprehensive view of the decision-making process. Twelve experienced professionals from various sectors, all decision-makers, participated in the research. As a result of the CRITIC method C5 (31.45%) ‘Data Confidentiality’ is the most important criteria, followed by C1 (25.92%) ‘Justice’. Furthermore, in the selection process using AI with the WASPAS method, statements A14 and A15 stand out in the final stage, automating the identification of the most suitable candidates for the position and carefully evaluating them. Meanwhile, A9, in the cognitive and behavioral testing stage, is crucial for identifying promising candidates based on objective results, ensuring an accurate fit between candidate and position and increasing the efficiency of the selection process.

Lean management approach in health sector: MCDM model proposal to prevention of waste

Lean manufacturing in the manufacturing sector corresponds to lean management in the service sector. When health services are considered, it is seen that the concepts that are important in the manufacturing sector have the same importance for health services. Because waste is the main problem of every sector. Lean management approach in the health sector enables improvements by developing solutions to many other problems of healthcare professionals, patients and hospitals, such as reducing transaction costs, ensuring patient safety, and reducing processing times. This study was carried out with the aim of establishing a lean health system by selecting the most appropriate lean management methodology in order to identify and prevent waste in health processes and to increase efficiency and service quality. In the study, the evaluation of lean methodologies that can be applied to prevent waste in health services is considered as a multi-criteria decision-making problem and a model has been proposed. In the proposed model, wastes were determined as research criteria and lean methodologies were determined as research alternatives. The solution phase of the problem was carried out in two stages with multi-criteria decision-making techniques. In the solution phase, the importance weights of 24 decision criteria were calculated with the SWARA method, while 5 alternatives were evaluated based on the decision criteria with the WASPAS method and the most suitable alternative was selected.

Comparison of Copras, Vikor, and Waspas Methods in School Promotion Media Selection

This Research Aims To Compare The COPRAS, VIKOR, And WASPAS Methods In A Decision Support System For Selecting School Promotion Media. Promotion Is An Important Activity To Improve The Impression And Competitiveness Of Schools. The Selection Of The Right Promotional Media Can Increase The Effectiveness Of The Promotion. The Three Methods Of COPRAS, VIKOR, And WASPAS Are Multicriteria Decision-Making Methods That Can Be Applied To Optimization Cases Such As The Selection Of Promotional Media. The Research Was Conducted By Applying The Three Methods To The Case Of Selecting Promotional Media For SMK Airlangga Using 5 Criteria: Cost, Time, Reach, Completeness, And Flexibility. The Results Show That The COPRAS And WASPAS Methods Produce The Same Ranking Of Alternatives With Billboards As The Best Alternative, While The VIKOR Method Is Different With Brochures As The Best Alternative. It Is Concluded That The WASPAS Method Is The Most Appropriate Because It Has Advantages In Terms Of Ease, Interpretation, And Consideration Of Criteria Weights

A consensus-based Fermatean fuzzy WASPAS methodology for selection of healthcare waste treatment technology selection

Healthcare waste (HCW) management is a complex issue influenced by many factors, including technological, economic, environmental, and social factors. It is possible to regard the evaluation of the best treatment technique for HCW management as a challenging case of MCDM (multi-criteria decision-making), where various alternatives and evaluation criteria must be considered. The presentation and handling of the shaky data are crucial to choosing the HCW treatment technology. In order to address the issue of MCDM issues with Fermatean fuzzy (FF) data, we first build a consensus-based WASPAS approach in this study. In the suggested integrated methodology, the rank of the alternatives is determined using the WASPAS method in an FF environment, and the attribute weights are estimated using the entropy measure technique. In the preceding, an HCW treatment technology assessment issue is considered to make the proposed structure's applicability more transparent. In this study, four HCW treatment methods—chemical disinfection, microwave disinfection, cremation, and autoclaving—are considered options. According to the study's findings, autoclaving is the most effective HCW treatment method. Additionally, we demonstrate a sensitivity assessment using several criteria weight sets to test the stability of our intriguing proposed approach. We also call attention to a contrast between our suggested approach to decision-making and the practices now in use.

Multicriteria decision support method CRITIC-WASPAS-N in the analysis of transportation companies on the stock exchange in the brazilian market

The aim of this article is to identify how multi-criteria decision support (MCDA) can help investment portfolios in transportation and logistics companies on the stock exchange. To develop this article, a stratification was carried out within BM&FBOVESPA with logistics and transportation companies presented on the Brazilian Stock Exchange. 16 transportation companies in the fundamentus data source. The data was collected from 5 financial indicators, selected according to the Principal Component Analysis (PCA) carried out by Basilio et al. (2018). The CRITIC method was used to generate the weights and normalize the decision matrix and the WASPAS method is used to classify assets. At the end of this stage, it was possible to classify the best alternatives for investing in transportation. After constructing portfolios, it was possible to see which company was most suitable for positive returns on investment. The result is a safe company to invest in logistics and transportation infrastructure in the Brazilian stock market through MCDA analysis and a sensitivity analysis. Research limitations/implications - Since the study is focused only on logistics and transportation companies, the study limited the alternatives with only 15 companies. An investor in transportation infrastructure economics can apply the conclusions of this article to other segments of the stock market. This study presents a methodology by merging the CRITIC method for generating weights and normalization and WASPAS with the normalization of the CRITIC method to build efficient investment portfolios.

Sistem Pendukung Keputusan Staf Karyawan Terbaik Pada Rumah Sakit Dengan Menggunakan Metode Waspas Dan Pembobotan Roc

This research is motivated by the problems faced by Estomih Hospital, Medan City, which is a container strategy in forming a way to process data or news for elements of a decision support system in handling or evaluating about how to service a job for the best employee at the Estomihi Hospital, Medan City and how to apply the method (WASPAS) in the sense of the word Weighted Aggregated Sum Product Assessment for making decisions to assess the best employee performance. To overcome the problem of evaluating employee performance processes at Estomihi Hospital, Medan City, it can be solved using the WASPAS method. Research was conducted to identify the best employees. This can be an accurate data in the selection of the best employees because it is categorized as one of the right ways for government agencies to evaluate employee performance. So as to produce a more stable and stronger value, therefore it is also necessary to update a system or designer in order to determine the maximum value of criteria and weight, the advantage of this method is that it is very easy and fast to overcome therefore this stage can be carried out so that it is easy to compare the criteria for very good employees or Top Telelent in such a way that employees who are rewarded attract the interest of managers. The calculation results show that the recipient of the award is ranked 1 by A5 on behalf of Bawardi Nimas with a score of 843,750. The advantage of the results of this study is the application of the best employee performance design because research uses the stages of designing a system which is said to be the WASPAS method, therefore the results provide an effective and efficient evaluation and facilitate management in evaluating employee performance, and exceeding expectations from. Indeed, employee performance appraisal can increase employee motivation to improve the quality of their performance.

Penerapan Metode Waspas Dalam Penilaian Kinerja Guru Terbaik

An analytical approach called teacher performance appraisal is used to provide better teaching instruction. At SD Negeri 101778, the teacher assessment method is less detailed. It is feared that the assessment, which is still insignificant and based on personal interests, will be subjective and cause social jealousy among teachers who have not yet received a recommendation. Weighted Aggregated Sum Product Assessment). In the process of ranking the performance of the best teachers, you can use the WASPAS method with predetermined criteria. The final results of this study show that alternative data A2 gets the highest score with a score of 1,962, so Alternative A2 has the best teacher performance

Optimal Selection of Cotton Fabrics: A WASPAS Method Approach

Always used for cotton-rich materials. WASPAS Cotton Fabric Selection in this paper, “the WASPAS method, a relatively fresh and computationally powerful MCDM (Multi-Criteria Decision Making) tool”, is suggested to rank ten candidate cotton fabrics according to four cloth properties such as: “cover, thickness, area density, and permeability”. The suggested fabrics are evaluated and chosen in order to achieve the best thermal comfort characteristics. “Sample Number 3 ranks first (best option) with the highest evaluation score of 0.95281, while Sample Number 6 ranks tenth with the lowest evaluation score of 0.50685.” The proposed method's ranking results demonstrate a substantial agreement in ranking with previous approaches, as evidenced by the extremely high standard coefficients of correlation. With rank coefficients of correlation higher than 0.90, the ranking methods provided by the four hypothetical weight sets have the highest degree of agreement. Furthermore, even if the original making choices team is changed, that will be no rank reversal. As a result, sensitivity analyses based on altering criterion weights and the impact of dynamic matrices improve the proposed approach's stability and robustness in terms of ranking success.

A Descriptive and Historical Study of Bibliography with Applications to Medical Science Using WASPAS Method

Several topics in medical science aim to explain how it human body functions. Beginning with fundamental biology, it is typically separated into specialized fields like anatomy, pharmacology, and diseases with a little physiology, microbiology, structural biology, and genetics thrown in. Several topics in medical science aim to explain how it human body functions. Beginning with fundamental biology, it is typically separated into specialist fields like anatomy, pharmacology, and diseases with a little physiology, microbiology, structural biology, and genetic thrown in. You can switch from a biological science to a physician career, yes. You can apply to graduate entrance program in medicine or pharmacy. It makes it possible for graduates in biological sciences and the healthcare industry to earn an MD degree swiftly. With additional study and a certificate in medical science, you can still find meaningful employment in the larger fields of medical, pharmaceutical, and health sciences. You will also have a strong basis for becoming a doctor or dentist. Alternative: Male students, Female students, and Female interns. Evaluation Option: Students' views of learning, educational self, perceptions of the environment, and social self of students’ perception of teachers from the result it is seen that Students’ perception of atmosphere and is got the first rank whereas is the Students’ perception of learning got is having the lowest rank. The value of the dataset for medical science in WASPAS method shows that it results in Students’ perception of atmosphere and top ranking

Smart manufacturing as a strategic tool to mitigate sustainable manufacturing challenges: a case approach

Due to the manufacturing sector’s severe negative impacts on sustainable development, sustainable manufacturing is gaining more momentum than ever. Despite the advantages of sustainable manufacturing, academic literature resources report that practitioners still face several challenges while implementing sustainable manufacturing. To eliminate such challenges, numerous mitigation strategies have been proposed, including those that identify Industry 4.0 technologies as a key factor. However, current studies are generally more focused on the application of Industry 4.0 technologies/smart manufacturing in sustainable manufacturing; most fail to provide an in-depth understanding of how these technologies might mitigate the existing adoption challenges of sustainable manufacturing. In this study, the key challenges of sustainable manufacturing are identified through literature review and analyzed with MCDM tools such as the Best-Worst Method and WASPAS method. The results suggest that governmental challenge demonstrates the greatest weight in the final ranking, followed by technological and organizational challenges. Among the sub-challenges, “lack of support from the government in the form of regulations / policies” and “absence of subsidies and incentives” display the most weight. Further, a framework has been proposed to map the collected challenges with relevant mitigating smart manufacturing technologies to bridge the gap remaining from existing studies. Finally, this study contributes to the new field of approaching smart manufacturing as a mitigating strategy for sustainable manufacturing implementation through highlighting the implications and recommendations.

Entropy-Based Waspas approach for financial performance in the COVID-19 era: Evidence from Islamic countries

Abstract The purpose of this study is to compare financial performance of the Islamic banks in the COVID-19 Era. The performance evaluation was conducted on seven Islamic countries between 2017 and 2021. Entropy Method was utilized to choose the best performance evaluation criteria affecting the Islamic banks’ performance and Waspas Method was used to determine the best performing Islamic country. The results indicate that ‘liquid assets to short-term liabilities’ is the best performance criteria for Islamic banks during the ‘whole period’, ‘no pandemic period’ and ‘pandemic period’. Additionally, while the Islamic country with the best performance was Bangladesh during ‘no pandemic period’, Turkey was the leading Islamic country for both ‘whole period’ and ‘pandemic period’.