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http://hdl.handle.net/10397/87924
Title: | An application of a fuzzy TOPSIS multi-criteria decision analysis algorithm for dry bulk carrier selection | Authors: | Sahin, B Yip, TL Tseng, PH Kabak, M Soylu, A |
Issue Date: | 2020 | Source: | Information (Switzerland), 2020, v. 11, no. 5, 251 | Abstract: | Decision-making in ship investment is a complex and difficult process with trade-offs. The purpose of this study is to guide the decisions on the purchase of dry bulk carriers based on a Fuzzy Technique for Order Preference by Similarity to Ideal Solution (Fuzzy TOPSIS) multi-criteria decision analysis algorithm. A set of criteria and a set of alternatives based on various characteristics are developed and evaluated with expert questionnaires. The proposed method provides weights for a given criteria to provide ranked alternatives, identifying the optimal solution. The alternatives among the multiple suppliers are ranked in the context of the shipping investment. This study reveals that shipowners are rather acting with a holistic perspective in ship purchase; however, we prove a detailed analysis is required. | Keywords: | Fuzzy logic Multi criteria decision analysis Shipping business TOPSIS |
Publisher: | MDPI AG | Journal: | Information (Switzerland) | EISSN: | 2078-2489 | DOI: | 10.3390/INFO11050251 | Rights: | © 2020 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/). The following publication Sahin B, Yip TL, Tseng P-H, Kabak M, Soylu A. An Application of a Fuzzy TOPSIS Multi-Criteria Decision Analysis Algorithm for Dry Bulk Carrier Selection. Information. 2020; 11(5):251, is available at https://doi.org/10.3390/info11050251 |
Appears in Collections: | Journal/Magazine Article |
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