An Integrated Strategic Decision Making Model by FAHP and its Evaluation by FTOPSIS for Foundry Industry

Abstract

As competition is universal in the scenario of globalized village, a small notch above the competitor is inevitable to catch the attention and sustains the challenges. In addressing the problems and difference between to such parameters can be adjudge by decisive sorting whereas qualitative factors makes it obscure and needs a logically rational method of isolating. There comes the obligation of the fuzzy concept. Supplier evaluation is the process of finding the criteria rating, relative weights and performance levels of the suppliers. And those parameters are captured by fuzzy numbers, and the overall performance of each alternative is calculated through following phases. In the first phase of the approach, the linguistic ratings for the given criteria are described and the defuzzified ratings are found by fuzzy logic method. The weightage for each criterion is calculated by Fuzzy AHP and the supplier performance is measured by using Fuzzy TOPSIS.This paper is one such effort in plugging the void by developing an integrated performance model using three different management tools viz., Fuzzy AHP (Analytical Hierarchy Process) and Fuzzy TOPSIS (Technique for Order Preference by Similarity to Ideal Solution)for foundry industry.