Application of Multi-Criteria Assessment in Banking Risk Management

Banks face a number of business risks on a daily basis. Today, operational risk is dominant. The aim of this paper is to develop a decision-making system when choosing a method of operational risk management by using the Analytical Hierarchy Process (the AHP method) and the Fuzzy Analytic Hierarchy Process (the FAHP method). Analytical hierarchical process is a simple efficient process in solving decision-making problems. The final decision depends on the assessment of a set of alternatives and the decision criteria. The main purpose of the process is to find appropriate solutions for defined user factors in the current competitive environment. The results obtained by the classical AHP method, as well as the FAHP method, show that external factors are the dominant criterion, especially during the financial crisis or the Covid19 pandemic, and that solutions should be sought in international standards, using control tools created by the banks themselves.

Assessment of Construction Risk Management Maturity Using Hybrid Fuzzy Analytical Hierarchy Process and Fuzzy Synthetic Approach: Iraq as Case Study

Knowing and developing the construction organizations' maturity level in risk management is critical to ensure they achieve their strategic objectives. This paper aims to design a new construction organizations' risk-management maturity model (C.ORM3) using new hybrid techniques and a distinct validation strategy based on global and local experience, to assess risk management maturity level in developing countries. A multi-steps methodology was adopted in this research. The study adopted an excessive systematic literature reviews of 22 previous articles on RM maturity and four standards and guidelines for eliciting model components. These components include five attributes with 26 capabilities;24 capabilities identified from literature review and 2 from experts. These capabilities are evaluated against five levels: immature, ad-hoc, standard, managed, and optimized. The authors adopted a new strategy for validating the model by three groups of global and local experts and verifying the proposed model in a realistic-world case study. This study is the first to use a hybrid method based on the Fuzzy Analytic Hierarchy Process (FAHP) and Fuzzy Synthetic Evaluation (FSE) techniques in evaluating RM maturity (RMM). Iraqi construction organizations validate the practicality of the model. The results showed that the overall RMM level of the Iraqi construction sector is 1.52, between immature and ad-hoc. The model has been converted into a computer template for ease of use by organizations. This study concluded that the suggested C.ORM3 helpful for construction organisations to evaluate their current state of RM and plan for future development © 2023, Mathematical Modelling of Engineering Problems.All Rights Reserved.

Prioritization of Supply Chain Capabilities Using the FAHP Technique

With the great challenges that the latest pandemic (COVID-19) has imposed on manufacturing companies, the need to overcome and cope with such situations is becoming crucial. Supply chain resilience is one of the main aspects that enables manufacturers to cope with change and uncertainty;therefore, it is essential to develop the capabilities necessary to do so. This study aimed to ensure supply chain resilience in light of the COVID-19 pandemic through prioritizing main supply chain capabilities. After surveying (30) experts in supply chain from leading manufacturing companies in Jordan, a Fuzzy Analytic Hierarchy Process (FAHP) analysis was conducted to prioritize main supply chain capabilities that were derived from the related literature. The results of this study showed that proactive capabilities, followed by reactive capabilities, were the most dominant capabilities that could ensure supply chain resilience, while efficiency-based capabilities were the least significant. Therefore, manufacturing companies should place their focus and emphasis on reacting to this pandemic in a more systematic manner. © 2023 by the authors.

Assessing the feasibility of hyperlocal delivery model as an effective distribution channel

Purpose: The successive waves of the Covid-19 SARS-II pandemic and the attendant lockdown imposed by the governments worldwide drove the economic activities to a halt. Offices and factories closed, production of goods and services declined and supply chains got severely disrupted. Many companies were embattled with the grim reality of shrinkage of aggregate demand, first due to supply shock and later due to loss of jobs and wages. Amidst all this, the handling and shipping of commodities became extremely complex. As the pandemic shifted consumer preference in favour of digital platforms, more and more fast-moving consumer goods (FMCG) companies were confronted with multiple strategies and choices of an appropriate distribution channel to ensure smooth delivery of raw materials and products. The present study aims to study this shift and its implications in the Indian context. Design/methodology/approach: A mix-method approach, integrating quantitative and qualitative analysis, is employed to investigate the factors influencing the selection of distribution channels amongst general trade, modern trade, e-commerce and hyperlocal for FMCG companies in India. The first phase of the study uses exploratory factor analysis (EFA), followed by the application of analytical hierarchy process (AHP) approach in a fuzzy environment to realise the priority weights and ranking of the identified factors. Finally, sensitivity analysis is performed to confirm the robustness of the fuzzy analytical hierarchy process (FAHP) outcomes. Findings: The study revealed that modern trade has emerged as the most favoured channel in the post-pandemic Indian economy. It has the potential to disrupt general trade. The study also revealed that the hyperlocal delivery model is not economically viable, and the partnership of FMCG companies with these applications is at best a short-term solution. However, it must be submitted that due to its sheer capability to ensure quick deliveries within a confined geographic area, hyperlocal delivery will gain momentum with the advancement of technology. Originality/value: This study can be seen as the first attempt to investigate the issues related to the selection of the distribution channels in the FMCG sector of India using multi-criteria decision-making technique (MCDM). © 2023, Emerald Publishing Limited.

Queuing model with variable service rate considering fatigue under epidemic situation

During the outbreak of COVID-2019, the problem of excessive fatigue in doctors and the decline in treatment rate were caused by unreasonable medical resources scheduling. The influence factors of emergency doctors' fatigue degree were studied quantitatively. The entropy weight fuzzy analytic hierarchy process (EW-FAHP) was used to calculate the influence weight of each factor. Through the methods of reasonable allocation, policy relief and scientific rotation, the fatigue degree of doctors in emergency diagnosis and treatment was minimized. At the same time, the variable service rate was set according to the length of doctors' working time, and the birth death process model was used to analyze the queuing sequence of patients. Finally, the model was visualized by using ProModel simulation software, and the experimental group and the control group were set for comparative study. The simulation results show that the output rate of patients, the utilization rate of doctors' seats and other service indicators of considering fatigue queuing model are better than those of the traditional model. At the same time, a dynamic balance state for doctors' fatigue and patients' satisfaction is reached. © 2022 Shanghai Institute of Mechanical Engineering. All rights reserved.

Managing disruptions and risks amidst COVID-19 outbreaks: role of blockchain technology in developing resilient food supply chains

This study attempts to present a contribution of Blockchain Technology (BC-T) in managing disruptions, and risk caused by the COVID-19 outbreaks and extending profound support in developing resilient Food Supply Chains (FSCs). The effects of the pandemic can be witnessed on global supply chains in their demand & supply side disruptions and in the changing patterns of consumer buying in the food industry. The assessment of the disruptive factors is required to explore the present issues and promising resilient strategies to impart robustness to the FSCs for mitigating disruptions in the future. An integrated approach of Fuzzy Analytic Hierarchy Process (FAHP) and Weighted Assessment Sum Product Assessment (WASPAS) is employed to assess the factors related to sourcing, lean, workforce, and flexibility, as well as evaluation of the BC-T enabled FSCs resilient strategies that mitigate the effect of disruption during the pandemic. The findings exhibit that ‘Sourcing related’ is the most affecting disruptive factor causing distress in the FSCs and ‘flexibility resilient strategy’ is the most relevant resilient strategy for BC-T enabled FSCs. The BC-T acts as a catalyst in enhancing the flexibility, traceability, and shorter supply chain network structure that may help the FSCs to mitigate risk and disruption in the pandemic situation. The BC-T helps the FSCs to control the demand and supply shocks, and supports the organization with real-time monitoring and sharing information. This study provides insights to the decision-makers, managers, and other stakeholders to take significant decisions during an emergency.

Sustainable Assessment for Biomass Power Plant Location during the COVID-19 Pandemic

Renewable energy plays an important role in energy sustainability and environmental friendliness, for example in terms of biomass power, and is essential for generating electric power, which has a significant impact on sustainable energy for the future. The objective of this research, therefore, is to propose a sustainable method of assessment for biomass power plant site selection for electric power supply for field hospitals during the COVID-19 pandemic in Thailand In this research, based upon overlay map layers as an empirical study, the pandemic, as well as environmental friendliness, are considered in Thailand The Fuzzy Analytic Hierarchy Process (FAHP) has been applied in order to determine the weighting of the criteria. Furthermore, the Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (FTOPSIS) has also been applied in order to rank alternative locations. The contribution of this research lies in the development of an approach that is flexible in terms of sustainable assessment, in terms of both subjective and objective evaluation measures, in order to reduce bias in the decision-making process, as well as to include natural disaster assessment in providing guidelines for the location selection of a biomass power plant from the perspective of environment friendliness.

Two-Stage PLS-SEM and Fuzzy AHP Approach to Investigate Vietnamese SMEs’ Export Competitiveness

Vietnam is paying great to the seafood exporting sector, offering various significant production advantages, concluding that it is critical to understand the competitiveness of the target market and implement effective strategies. However, due to COVID 19, the value of Vietnamese pangasius exports resulted in low and unpredictable profits for pangasius farmers. It is obvious to recognize competitiveness as Multi-Criteria Decision Making (MCDM) problem in the uncertain business environment. Therefore, this study is the first to propose a two-staged Partial Least Squares-Structural Equation Modeling (PLS-SEM) and Fuzzy Analytic Hierarchy Process (FAHP) analysis to identify potential criteria and comprehensively investigate the competitiveness of Vietnamese pangasius export Small and Medium-sized Enterprises (SMEs) in the context of China market. First, a dataset of 186 valid respondents from seafood export SMEs was collected through an online survey from June to December 2020. The PLS-SEM approach was applied to ascertain the positive impact of the proposed criteria contributing to the competitiveness of Vietnamese pangasius against China market. The PLS-SEM results showed that all criteria strongly correlated with the pangasius exporting competitiveness. Then, the FAHP method is employed to rank the subjective weights of mentioned criteria based on 12 experts’ judgments. Knowledge infrastructure (C3) has the highest rank of competitiveness criteria with the highest weight, followed by Product (C4). In contrast, Prices (C6) was indicated as the lowest rank at 0.107 regarding FAHP results. Furthermore, this study provides insights into stakeholders seeking to improve competitiveness performance.

Integration interval type-2 fahp-ftopsis group decision-making problems for salt farmer recommendation

The Covid-19 pandemic has caused the development of the marine economy, especially the salt business of Madurese Indonesian people, to experience a decline. Some government programs are marketplace training, providing people's credit assistance, providing appropriate technical assistance such as geomembranes, and online marketing. There are difficulties in running and implementing government programs, so a decision-making system is needed for mapping salt farmers. The purpose is construct a multi-criteria group decision-making model by performing a hybrid interval type 2 FAHP and FTOPSIS method for mapping salt farmers with interval Triangular Fuzzy Number (TFN). The contribution is to determine recommendations based on TFN with the same middle point and group support system. Interval type-2 FAHP is used to determine the most influential indicator on salt farmer mapping, Interval type-2 TOPSIS is used to determine salt farmer recommendations. Fuzzy type-2 provides more accurate modeling, better rating value performance, and high flexibility. The findings of this study are indicators that most influence recommendation of salt farmers are marketing models, production yields, and profit. The results of the recommendations stated that 45% received good recommendations, 35% entered into moderate recommendations and 20 % entered into bad recommendations. © 2021 the author(s).

Identification of dominant risk factor involved in spread of COVID-19 using hesitant fuzzy MCDM methodology.

The outburst of the pandemic Coronavirus disease since December 2019, has severely impacted the health and economy worldwide. The epidemic is spreading fast through various means, as the virus is very infectious. Medical science is exploring a vaccine, only symptomatic treatment is possible at the moment. To contain the virus, it is required to categorize the risk factors and rank those in terms of contagion. This study aims to evaluate risk factors involved in the spread of COVID-19 and to rank them. In this work, we applied the methodology namely, Fuzzy Analytic Hierarchy Process (FAHP) to find out the weights and finally Hesitant Fuzzy Sets (HFS) with Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is applied to identify the major risk factor. The results showed that "long duration of contact with the infected person" the most significant risk factor, followed by "spread through hospitals and clinic" and "verbal spread". We showed the appliance of the Multi Criteria Decision Making (MCDM) tools in evaluation of the most significant risk factor. Moreover, we conducted sensitivity analysis.

Evaluation of hospital disaster preparedness by a multi-criteria decision making approach: The case of Turkish hospitals.

Considering the unexpected emergence of natural and man-made disasters over the world and Turkey, the importance of preparedness of hospitals, which are the first reference points for people to get healthcare services, becomes clear. Determining the level of disaster preparedness of hospitals is an important and necessary issue. This is because identifying hospitals with low level of preparedness is crucial for disaster preparedness planning. In this study, a hybrid fuzzy decision making model was proposed to evaluate the disaster preparedness of hospitals. This model was developed using fuzzy analytic hierarchy process (FAHP)-fuzzy decision making trial and evaluation laboratory (FDEMATEL)-technique for order preference by similarity to ideal solutions (TOPSIS) techniques and aimed to determine a ranking for hospital disaster preparedness. FAHP is used to determine weights of six main criteria (including hospital buildings, equipment, communication, transportation, personnel, flexibility) and a total of thirty-six sub-criteria regarding disaster preparedness. At the same time, FDEMATEL is applied to uncover the interdependence between criteria and sub-criteria. Finally, TOPSIS is used to obtain ranking of hospitals. To provide inputs for TOPSIS implementation, some key performance indicators are established and related data is gathered by the aid of experts from the assessed hospitals. A case study considering 4 hospitals from the Turkish healthcare sector was used to demonstrate the proposed approach. The results evidenced that Personnel is the most important factor (global weight = 0.280) when evaluating the hospital preparedness while Flexibility has the greatest prominence (c + r = 23.09).