Development of a Novel Integrated CCSD-ITARA-MARCOS Decision-Making Approach for Stackers Selection in a Logistics System

The main goal of this paper is to propose a Multiple-Criteria Decision-Making (MCDM) approach that will facilitate decision-making in the field of logistics-i.e., in the selection of the optimal equipment for performing a logistics activity. For defining the objective weights of the criteria, the correlation coefficient and the standard deviation (CCSD method) are applied. Furthermore, for determining the semi-objective weights of the considered criteria, the indifference threshold-based attribute ratio analysis method (ITARA) is used. In this way, by combining these two methods, the weights of the criteria are determined with a higher degree of reliability. For the final ranking of the alternatives, the measurement of alternatives and ranking according to the compromise solution method (MARCOS) is utilized. For demonstrating the applicability of the proposed approach, an illustrative case study pointing to the selection of the best manual stacker for a small warehouse is performed. The final results are compared with the ones obtained using the other proved MCDM methods that confirmed the reliability and stability of the proposed approach. The proposed integrated approach shows itself as a suitable technique for applying in the process of logistics equipment selection, because it defines the most influential criteria and the optimal choice with regard to all of them in a relatively easy and comprehensive way. Additionally, conceiving the determination of the criteria with the combination of objective and semi-objective methods enables defining the objective weights concerning the attitudes of the involved decision-makers, which finally leads to more reliable results.