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Application of a fuzzy multi-criteria decision-making model for shipping company performance evaluation

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  • Tsung-Yu Chou
  • Gin-Shuh Liang

Abstract

Combining fuzzy set theory, Analytic Hierarchy Process (AHP) and concept of entropy, a fuzzy Multiple Criteria Decision-Making (MCDM) model for shipping company performance evaluation is proposed. First, the AHP is used to construct subjective weights for all criteria and sub-criteria. Then, linguistic values characterized by triangular fuzzy numbers and trapezoidal fuzzy numbers are used to denote the evaluation values of all alternatives with respect to various subjective and objective criteria. Finally, the aggregation fuzzy assessment of different shipping companies is ranked to determine the best selection. Utilizing this fuzzy MCDM model, the decision-maker's fuzzy assessment and the trade-off between various evaluations criteria can be taken into account in the aggregation process, thus ensuring more effective and accurate decision-making.

Suggested Citation

  • Tsung-Yu Chou & Gin-Shuh Liang, 2001. "Application of a fuzzy multi-criteria decision-making model for shipping company performance evaluation," Maritime Policy & Management, Taylor & Francis Journals, vol. 28(4), pages 375-392, October.
    • Handle: RePEc:taf:marpmg:v:28:y:2001:i:4:p:375-392
    DOI: 10.1080/03088830110049951
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    1. Yoram Wind & Thomas L. Saaty, 1980. "Marketing Applications of the Analytic Hierarchy Process," Management Science, INFORMS, vol. 26(7), pages 641-658, July.
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    1. Danijela Tuljak-Suban & Elen Twrdy, 2015. "Fuzzy empty containers excess estimation as an economic indicator--the case of the north Adriatic port system," Maritime Policy & Management, Taylor & Francis Journals, vol. 42(8), pages 759-775, November.
    2. S. Mostafa Mokhtari & Hamid Alinejad-Rokny & Hossein Jalalifar, 2014. "Selection of the best well control system by using fuzzy multiple-attribute decision-making methods," Journal of Applied Statistics, Taylor & Francis Journals, vol. 41(5), pages 1105-1121, May.
    3. Sakthivel, G. & Sivaraja, C.M. & Ikua, Bernard W., 2019. "Prediction OF CI engine performance, emission and combustion parameters using fish oil as a biodiesel by fuzzy-GA," Energy, Elsevier, vol. 166(C), pages 287-306.
    4. Marek Z. Reformat & Ronald R. Yager, 2015. "Soft Computing Techniques for Querying XBRL Data," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 22(3), pages 179-199, July.
    5. Ha, Min-Ho & Yang, Zaili, 2017. "Comparative analysis of port performance indicators: Independency and interdependency," Transportation Research Part A: Policy and Practice, Elsevier, vol. 103(C), pages 264-278.
    6. Wenming Shi & Kevin X. Li, 2017. "Themes and tools of maritime transport research during 2000-2014," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(2), pages 151-169, February.
    7. Flitsch, Verena & Brümmerstedt, Katrin, 2015. "Freight Transport Modelling of Container Hinterland Supply Chains," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Blecker, Thorsten & Kersten, Wolfgang & Ringle, Christian M. (ed.), Operational Excellence in Logistics and Supply Chains: Optimization Methods, Data-driven Approaches and Security Insights. Proceedings of the Hamburg , volume 22, pages 233-266, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    8. Keun-Sik Park & Young-Joon Seo & A-Rom Kim & Min-Ho Ha, 2018. "Ship Acquisition of Shipping Companies by Sale & Purchase Activities for Sustainable Growth: Exploratory Fuzzy-AHP Application," Sustainability, MDPI, vol. 10(6), pages 1-13, May.
    9. B. Kirubakaran & M. Ilangkumaran, 2016. "Selection of optimum maintenance strategy based on FAHP integrated with GRA–TOPSIS," Annals of Operations Research, Springer, vol. 245(1), pages 285-313, October.
    10. Lee, Taedong & Kim, Hyun Jung, 2015. "Barriers of voyaging on the Northern Sea Route: A perspective from shipping Companies," Marine Policy, Elsevier, vol. 62(C), pages 264-270.
    11. Sivaraja, C.M. & Sakthivel, G., 2017. "Compression ignition engine performance modelling using hybrid MCDM techniques for the selection of optimum fish oil biodiesel blend at different injection timings," Energy, Elsevier, vol. 139(C), pages 118-141.
    12. Donald Ukpanyang & Julio Terrados-Cepeda & Manuel Jesus Hermoso-Orzaez, 2022. "Multi-Criteria Selection of Waste-to-Energy Technologies for Slum/Informal Settlements Using the PROMETHEE Technique: A Case Study of the Greater Karu Urban Area in Nigeria," Energies, MDPI, vol. 15(10), pages 1-26, May.

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