Applications of MOORA method for benchmarking decision in Indian industries

摘要

The selection of decisions becomes multifaceted as decision makers in service environment have to assess a wide range of alternatives based on contradictory criteria. These decisions are more intricate as the numbers of attributes are dependent on critical success factors for particular industry. Thus, in a realistic problem for service industries, it is difficult to identify the benchmark model in competitive scenario to sustain superlative in their areas. Therefore, based on constraint of novel and simple method that can recognise paramount decisions for selection supplementary to multi attitude decision making (MADM) methods, a multi-objective optimisation on the basis of ratio analysis approach (MOORA) method is applied in this paper where three different examples for MOORA application which consist of: 1) selection of best alternatives; 2) ranking of internal assessment for benchmarking in an industry; 3) ranking of different types of benchmarking process as per their usage are considered. With applications of multi-objective optimisation on the basis of MOORA, becomes easier as comparison to other MADM methods for solving diverse decision making problems in concurrent service environment which is sympathetic for executives in alternatives selection and their attributes to pursue benchmark.