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The aim of the paper is to determine the risk level of a contract extension with the existing policyholders, which is further propagated to the business effectiveness and long-term sustainability of the company. The uncertainties in the relative importance of risk factors, their values, and risk levels are described by the linguistic forms, which are modeled by using the fuzzy sets theory. The evaluations of the relative importance of risk factors are stated as a fuzzy group decision-making problem. The weights of risk factors are obtained by using a fuzzy analytic hierarchy process. The determination of production rules for the assessment of the risk level is based on fuzzy IF-THAN rules. The verification of the model is performed by using real-life data originating from the insurance company which operates in the Republic of Serbia. [ABSTRACT FROM AUTHOR]

In Vietnam, as more and more organizations are moving toward globalization, green supplier selection (GSS) has emerged as a strategic approach in supply chain management that requires supplier practices in lessening the environmental risks to society. Based on both conventional and environmental criteria, this paper aims to evaluate a set of suppliers by establishing a multi-criteria decision-making (MCDM)-based framework using an integrated fuzzy analytical hierarchy process (FAHP) with the VIseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) method. Initially, five GSS criteria of the environmental aspect (wastewater treatment, solid waste generation, energy consumption, air pollution, corporate social responsibility) and conventional criteria (quality, cost, delivery, and technology) are identified from the literature and consulting field experts to employ the MCDM approach. The trustworthiness of the proposed integrated framework is presented by discussing a case study in the coffee bean supply chain in Vietnam. The FAHP is used to generate criteria weights in which fuzzy set theory is applied to translate the linguistic evaluation statements of experts, and VIKOR is used to rank the alternatives against the selected criteria. From FAHP findings, the most important criteria are quantity discount, solid waste generation, order fulfillment rate, logistics cost, and purchasing cost. A consistency test is performed to ensure the uniformity of the expert's input. The best suppliers are determined through the final ranking of the VIKOR model for the case study. The work presented provides insight to decision-makers of supplier selection that helps determine significant GSS criteria and aids in the minimization of environmental risks to society arising from the supply chain on corporate sustainability standards. [ABSTRACT FROM AUTHOR]

A precise evaluation of the actual situation is a significant aspect of making a correct and informed decision. Due to the bounded accuracy and elements of uncertainty in the data itself, a point estimate may be less adjusted and rough than an estimate based on fuzzy set theory. The stability of the Fuzzy AHP Arithmetic mean, Geometric mean, Extent analysis, and Lambda Max methods, widely used in practice, is verified. Three stages of verification are considered, investigating the impact of the following: (a) the scale applied; (b) methods of aggregation of the AHP matrices into the FAHP matrix; and (c) methods of combining several FAHP judgments. Slight changes in experts' estimates are programmatically simulated tens of thousands of times to track changes in ranking and deviations of results from the initial estimate. This continues the study of FAHP's stability due to the ambiguous results of such verification by the method of extent analysis. As a result of a comparative analysis of the listed evaluation methods, their specific features and advantages are identified. [ABSTRACT FROM AUTHOR]

In this paper, the application of hexagonal fuzzy multiple-criteria decision-making (MCDM) methodology for the site selection of electric vehicle charging stations is considered. In this regard, four factors and thirteen sub-factors have been taken into consideration for E-vehicle charging site selection. In this research, the geographic information system (GIS) has been incorporated with MCDM techniques. The fuzzy analytic hierarchy process (FAHP) is used to obtain a fuzzy weight of factors and sub-factors. MCDM tools fuzzy technique for order of preference by similarity to ideal solution (FTOPSIS) and fuzzy complex proportional assessment (FCOPRAS) have been used to rank the selected sites. A centroid-based method for defuzzification and distance measure between two hexagonal fuzzy numbers (HFN) has been developed for this paper. A practical example in Howrah, India, is considered to show the applicability and usefulness of the model. The results depict the suitability of the proposed research. Comparative and sensitivity analyses have been demonstrated to check the reliability, robustness and effectiveness of the proposed method. [ABSTRACT FROM AUTHOR]

With the effects of the COVID-19 pandemic, the e-commerce trend is driving faster, significantly impacting supply chains around the world. Thus, the importance of logistics and supply chain functions has been amplified in almost every business that ships physical goods. In Vietnam, the logistics service sector has seen rapid expansion. Since more and more businesses are seeking third-party logistics (3PL) providers to outsource the logistics functions, this article aims to offer decision-makers an integrated and consistent model for evaluating and selecting the most efficient 3PLs. To this end, the authors exploit a hybrid multi-criteria method which is fuzzy analytic hierarchy process (FAHP) and fuzzy vlsekriterijumska optimizacija i kompromisno resenje (FVIKOR) while examining the most influential and conflicting criteria regarding economic, service level, environmental, social, and risk aspects. Fuzzy information in the natural decision-making process is considered, linguistic variables are used to mitigate the uncertain levels in the criteria weights. First, FAHP (the weighting method) is adopted to evaluate and calculate each criterion's relative significant fuzzy weight. FVIKOR (the compromised ranking method) is then used to rank the alternatives. The combination of FAHP and FVIKOR methods provides more accurate ranking results. As a result, reliability and delivery time, voice of customer, logistics cost, network management, and quality of service are the most impactful factors to the logistics outsourcing problem. Eventually, the optimized 3PLs were determined that fully meet the criteria of sustainable development. The developed integrated model offers the complete and robust 3PLs evaluation and selection process and can also be a powerful decision support tool for other industries. [ABSTRACT FROM AUTHOR]

Choosing a supplier is a complex decision-making process that can reduce the total cost of production inputs and increase profits without increasing the price or sacrificing product quality. However, supplier selection processes usually involve multiple quantitative and qualitative criteria which increase the complexity of the problem and may decrease the accuracy and effectiveness of the process. Such complex decision-making problems can be supported by using multicriteria decision-making (MCDM) models. While there have been multiple MCDM models to support supplier selection processes in different industries and sectors, only a few are developed to support the supplier selection processes in the garment industry, especially under uncertain decision-making environment. This paper presents an integrated mathematical model under a fuzzy environment and applies it to the supplier selection process in the garment industry. In this research, the authors utilize the Buckley extension based fuzzy Analytical Hierarchical Process (FAHP) method in combination with linear normalization based fuzzy Grey Relational Analysis (F-GRA) method to develop a MCDM approach to the supplier selection process under a fuzzy environment. As a result, supplier 08 (SA08) is the optimal supplier. The contribution of this work is to propose an MCDM model for ranking potential suppliers in the garment industry under a fuzzy environment. The proposed approach can also be applied to support complex decision-making processes under a fuzzy environment in different industries. [ABSTRACT FROM AUTHOR]