Novel Integrated Hybrid Multi-Criteria Decision-Making Approach for Logistics Performance Index

There is no doubt that technological changes and globalization have increased the importance of the logistics industry. The effectiveness of logistics services is directly related to expanding the trade network between countries, increasing foreign direct investments and growing the economy. The World Bank evaluates the logistics competitiveness of countries by using its Logistics Performance Index. However, logistics performance evaluation includes multiple criteria, and a realistic assessment process, such as the multi-criteria decision-making (MCDM) technique, is needed. In this study, a comparative analysis of hybrid MCDM methods is utilized to evaluate the logistics performance of 160 Organisation for Economic Co-operation and Development countries by using a group decision-making approach. In the first step, the importance levels of the logistics performance criteria were calculated. Then, the logistics performances of the countries were analyzed. In the last step, the Borda count method was implemented for the results of different hybrid MCDM methods to give final rankings.

Automated summary

Technological changes and globalization have increased the importance of the logistics industry, as the effectiveness of logistics services directly impacts the expansion of international trade networks, increased foreign direct investment, and economic growth. Evaluating logistics performance is crucial for assessing a country's logistics competitiveness, and the use of multi-criteria decision making techniques allows for a realistic assessment process.