A Fuzzy Multi-Criteria Group Decision Making Model for Measuring Risks in a Supply Chain Using Extended VIKOR Method
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.
KeywordsSupply chain risk management Multi-criteria group decision making Fuzzy VIKOR Risk index Aviation sector
The authors wish to thank the anonymous referees for their helpful and constructive comments and suggestions. The work is supported by the National Natural Science Foundation of China (Grant No. 71301109, 71401114), the Western and Frontier Region Project of Humanity and Social Sciences Research, Ministry of Education of China (Grant No. 13XJC630018), the Philosophy and Social Sciences Planning Project of Sichuan province (Grant No. SC12BJ05).
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