A Weighted Least-Square Dissimilarity Approach for Multiple Criteria ABC Inventory Classification

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journal

3 Scopus Citations
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Author(s)

Detail(s)

Original languageEnglish
Article number1850025
Journal / PublicationAsia-Pacific Journal of Operational Research
Volume35
Issue number4
Online published11 May 2018
Publication statusPublished - Aug 2018

Abstract

The present paper develops a weighted least-square dissimilarity approach to address the Multiple Criteria ABC inventory classification problem, when the different criteria ranking makes impossible to achieve a group consensus. The proposed approach effectively eliminates drawbacks regarding subjective judgements of multiple decision makers on the criteria importance, and comprehensively aggregates all rankings of the criteria importance to provide a more reasonable and effective classification mechanism. The common weights associated with all rankings are determined. An illustrative example is presented to compare the performance of our approach with the existing studies.

Research Area(s)

  • aggregation, Inventory ABC analysis, weights