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Risk Preference Based Ranking of Suppliers Based on Interval Valued Trapezoidal Neutrosophic Number

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Digital Democracy – IT for Change (CSI 2020)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1372))

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Abstract

The paper presents a neutrosophic decision-making approach to select the suitable supplier among all the available supplier alternatives. In supply chain system, supplier selection is a significant decision to minimize the supply chain disruption risk. In practice, supplier is selected in unstructured way. There are many factors such as flexibility to meet urgent requirement, timely delivery, suitable price and good quality which must be considered in selecting the supplier. In this paper, all these factors are expressed in linguistic variables and weights are considered for each linguistic variable. These linguistic variables are further expressed in interval-valued-trapezoidal-neutrosophic-number. Then, interval-valued-trapezoidal-neutrosophic-weighted-arithmetic-averaging (IVTrNWAA) operator is used in multi-criteria-decision-making (MCDM) environment to solve supplier selection problem. Different levels of risk preference of expert are introduced to calculate the score values and accuracy degree, on the basis of which, all suppliers are ranked. The paper shows that it is important to consider the preference parameter/risk-attitude of decision maker and discusses how it affects the decision of supplier selection with the help of a case study on medical supply chain.

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Authors and Affiliations

  1. BML Munjal University, Gurgaon, India

    Kiran Khatter

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  1. Kiran Khatter
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Editors and Affiliations

  1. Utkal University, Bhubaneswar, India

    Prafulla Kumar Behera

  2. Rama Devi Women's University, Bhubaneswar, India

    Purna Chandra Sethi

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Khatter, K. (2021). Risk Preference Based Ranking of Suppliers Based on Interval Valued Trapezoidal Neutrosophic Number. In: Behera, P.K., Sethi, P.C. (eds) Digital Democracy – IT for Change. CSI 2020. Communications in Computer and Information Science, vol 1372. Springer, Singapore. https://doi.org/10.1007/978-981-16-2723-1_10

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  • DOI: https://doi.org/10.1007/978-981-16-2723-1_10

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-16-2722-4

  • Online ISBN: 978-981-16-2723-1

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