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One of the major problems faced in engineering is the selection of the material which is most suitable for the product. Material selection from a large number with diverse mechanical, physical and chemical properties and choosing the best material which is the most satisfying for making the job is a very complex process. Material selection is important as it determines durability, reliability and cost of the product. Selection of suitable material which gives maximum performance with minimum cost is often observed to be a multi-criterion decision-making (MCDM) problem with different objectives. This chapter presents an integrated approach to select the suitable material to be used as base of induction cookware which can give maximum performance with minimum cost. In the integrated approach the weights of the criteria are computed using the cross-entropy method and ranking of the alternatives is done using the different MCDM methods. The methods are further illustrated with an example and the result obtained from different cross-entropy MCDM methods are compared for finding the most suitable method for serving the purpose.