STUDY TOWARDS THE TIME-BASED MCDA RANKING ANALYSIS - A SUPPLIER SELECTION CASE STUDY

Decision-making processes increasingly use models based on various methods to ensure professional analysis and evaluation of the considered alternatives. However, the abundance of these methods makes it difficult to choose the proper method to solve a given problem. Also, it is worth noting whether different results can be obtained using different methods within a single decision problem. In this paper, we used three selected Multi-Criteria Decision Analysis (MCDA) methods called COMET, TOPSIS, and SPOTIS in order to examine how the obtained rankings vary. The selection of material suppliers was taken into consideration. The equal weights, entropy and standard deviation methods were used to determine the weights for criteria. Final preferences values were then compared with the WS similarity coefficient and weighted Spearman correlation coefficient to check the similarity of the received rankings. It was noticed that in the given problem, all of the methods provide highly correlated results, and the obtained positional rankings are not significantly different However, practical conclusions indicate the need to look for improved solutions in the correct and accurate assessment of suppliers in a given period.

Automated summary

In this study, three MCDA methods were applied to examine the rankings obtained for the selected problem, showing highly correlated results and insignificant differences in positional rankings. The findings suggest the need for improved solutions in accurately assessing suppliers during a given period.