Comparison of AHP-TOPSIS and AHP-VIKOR Methods in Product Selection in terms of Inventory Management
Abstract
Firms must develop and implement effective inventory policies that
minimize costs and maximize profits in today's market conditions where
extraordinary competition is experienced. Inventory has an important place in
the total assets of manufacturing enterprises. Implementation of effective
inventory management policies for this important item is crucial for the future
of firms. Firms can meet customer needs more effectively by controlling fewer
inventories that they classify according to their importance level. In this
study, which is prepared by taking advantage of this point of view, application
is presented that applies multi-criteria decision-making methods to determine
the most important product in terms of inventory management. In the process of
determining the product in the most important according to criteria determined,
AHP method which is frequently used in the literature is applied for
calculation weights of criteria. These weights are used in TOPSIS and VIKOR
methods and results of these two methods are compared.
Keywords
AHP,Inventory management,Multi-criteria decision making,TOPSIS,VIKOR
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