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Application of the VIKOR method for solving problems in logistics

Author

Listed:
  • Mijalkovski Stojance

    (Faculty of Natural and Technical Sciences, Goce Delcev University, Stip, North Macedonia)

  • Stefanov Vasko

    (Faculty of Natural and Technical Sciences, Goce Delcev University, Stip, North Macedonia)

  • Mirakovski Dejan

    (Faculty of Natural and Technical Sciences, Goce Delcev University, Stip, North Macedonia)

Abstract

When companies make strategic decisions, responsible persons must take into account as many influential parameters as possible so that the solution to the given problem is the most optimal, that is, they make the most appropriate decision. Multi-criteria decision-making (MCDM) can find a very large application for solving such very complex and important issues, where it is of particular importance that the company makes the most appropriate decision. Making the optimal decision for a given problem directly affects the financial performance of a given company. In this paper, the VIKOR method will be applied, which until now has not been used to solve problems related to the choice of warehouse location, but is very often and very successfully used to solve various complex problems when applying multi-criteria decision making (MCDM). The purpose of this paper is to show that the VIKOR method can be successfully applied to select the optimal warehouse location for a company that has subsidiaries in multiple locations.

Suggested Citation

  • Mijalkovski Stojance & Stefanov Vasko & Mirakovski Dejan, 2024. "Application of the VIKOR method for solving problems in logistics," Logistics, Supply Chain, Sustainability and Global Challenges, Sciendo, vol. 15(2), pages 1-9.
    • Handle: RePEc:vrs:losutr:v:15:y:2024:i:2:p:1-9:n:1001
    DOI: 10.2478/jlst-2024-0003
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