Authors: Michał Adamczak, Roman Domański, Norbert Wagener
Title: COMPARISON OF MULTIPLE-CRITERIA DECISION-MAKING METHODS - RESULTS OF SIMULATION STUDY
Keywords: weighted sum model, analytic hierarchy process, multiple-criteria decision-making, simulation study
Background: Today, both researchers and practitioners have many methods for supporting the decision-making process. Due to the conditions in which supply chains function, the most interesting are multi-criteria methods. The use of sophisticated methods for supporting decisions requires the parameterization and execution of calculations that are often complex.
So is it efficient to use sophisticated methods?
Methods: The authors of the publication compared two popular multi-criteria decision-making methods: the Weighted Sum Model (WSM) and the Analytic Hierarchy Process (AHP). A simulation study reflects these two decision-making methods. Input data for this study was a set of criteria weights and the value of each in terms of each criterion.
Results: The iGrafx Process for Six Sigma simulation software recreated how both multiple-criteria decision-making methods (WSM and AHP) function. The result of the simulation was a numerical value defining the preference of each of the alternatives according to the WSM and AHP methods. The alternative producing a result of higher numerical value was considered preferred, according to the selected method. In the analysis of the results, the relationship between the values of the parameters and the difference in the results presented by both methods was investigated. Statistical methods, including hypothesis testing, were used for this purpose.
Conclusions: The simulation study findings prove that the results obtained with the use of two multiple-criteria decision-making methods are very similar. Differences occurred more frequently in lower-value parameters from the "value of each alternative" group and higher-value parameters from the "weight of criteria" group.
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|MLA||Adamczak, Michał, et al. "Comparison of multiple-criteria decision-making methods - results of simulation study." Logforum 12.4 (2016): 5. DOI: 10.17270/J.LOG.2016.4.5|
|APA||Michał Adamczak, Roman Domański, Norbert Wagener (2016). Comparison of multiple-criteria decision-making methods - results of simulation study. Logforum 12 (4), 5. DOI: 10.17270/J.LOG.2016.4.5|
|ISO 690||ADAMCZAK, Michał, DOMAńSKI, Roman, WAGENER, Norbert. Comparison of multiple-criteria decision-making methods - results of simulation study. Logforum, 2016, 12.4: 5. DOI: 10.17270/J.LOG.2016.4.5|