A Fuzzy Multi-Criteria Group Decision Making Model for Measuring Risks in a Supply Chain Using Extended VIKOR Method

  • Muhammad Nazam
  • Jamil Ahmad
  • Muhammad Kashif Javed
  • Muhammad Hashim
  • Adnan Sarwar
  • Shahid Rasheed
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 362)

Abstract

In this paper, we quantify risks in a supply chain process from an aviation’s perspective. Due to globalization, supply chains are getting more and more risky than before. As risk is inherent and uncertain activity, if it occurs then all of the supply chain partners will be impacted with a significant loss. To deal with this problem, a comprehensive risk evaluation index system has been proposed, which captures the level of risk faced by a supply chain in a given situation. For measuring risks in a supply chain we formulated a fuzzy multi-criteria group decision making model based on extended VIKOR method to determine the best feasible solution according to the selected risk parameters. A practical case study is conducted to test the applicability of the proposed methodology. Finally, we discuss the effectiveness of the proposed framework and rank the risk alternatives in descending order.

Keywords

Supply chain risk management Multi-criteria group decision making Fuzzy VIKOR Risk index Aviation sector 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2015

Authors and Affiliations

  • Muhammad Nazam
    • 1
  • Jamil Ahmad
    • 1
  • Muhammad Kashif Javed
    • 1
  • Muhammad Hashim
    • 2
  • Adnan Sarwar
    • 1
  • Shahid Rasheed
    • 3
  1. 1.Uncertainty Decision-Making LaboratorySichuan UniversityChengduPeople’s Republic of China
  2. 2.Department of Business AdministrationNational Textile UniversityFaisalabadPakistan
  3. 3.School of Economics and ManagementBeijing University of Posts and TelecommunicationsBeijingPeople’s Republic of China

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