Selection of Plant Location for a Steel Project by TOPSIS

Partha Sarathi Ghose

doi:doi:10.11648/j.wjac.20210601.11

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Selection of Plant Location for a Steel Project by TOPSIS

Partha Sarathi Ghose

Published in World Journal of Applied Chemistry (Volume 6, Issue 1)

Received: 7 January 2021 Accepted: 23 January 2021 Published: 28 January 2021

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Abstract

In a complex business environment, the leadership team has to take certain decisions based on several criteria associated with the decision, some of which are quantifiable with real numbers while the remaining may be subjective or qualitative in nature, which may possibly be expressible linguistically or as a subjective comparison, though equally important for the final decision making. Such decision problems are called Multi-Criteria Decision Making (MCDM) problems. There are techniques available to deal with such problems by integrating all the criteria, quantitative or qualitative, in the decision algorithm and arriving at the most suitable alternatives among several choices available, through certain process steps. MCDM problems may be encountered in many areas of business like key project decisions, strategic decisions on inward and outward logistics, marketing decisions, process technology selection, supply chain decisions, marketing strategies, plant layout optimization etc. The major algorithms that can be conveniently applied to crack such decision problems are Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Weighted Sum Method (WSM). This article will attempt to solve a site selection problem for a Greenfield integrated steel project, considering several key selection criteria and certain alternative locations. For performing this exercise, the article shall use TOPSIS as the algorithm.

Published in	World Journal of Applied Chemistry (Volume 6, Issue 1)
DOI	10.11648/j.wjac.20210601.11
Page(s)	1-5
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Project-decisions, Decision Problems, MCDM, TOPSIS

References

[1]	TOPSIS – From Wikipedia, the free encyclopaedia. Retrieved from: https://en.wikipedia.org/wiki/TOPSIS#Description
[2]	Manoj Mathur (2018); TOPSIS - Technique for Order Preference by Similarity to Ideal Solution; Retrieved from: https://www.youtube.com/watch?v=kfcN7MuYVeI
[3]	Miss. Neelima B. Kore, Prof. Dr. K. Ravi, Asst. Prof. Mr. S. B. Patil (May -2017); “A Simplified Description of FUZZY TOPSIS Method for Multi Criteria Decision Making”; International Research Journal of Engineering and Technology (IRJET), Volume: 04 Issue: 05; Retrieved from: https://www.irjet.net/archives/V4/i5/IRJET-V4I5548.pdf
[4]	M. Pavan, R. Todeschini (2009), Multicriteria Decision-Making Methods Comprehensive Chemometrics; Retrieved from: https://www.sciencedirect.com/topics/mathematics/multi-criteria-decision-making
[5]	Partha S. Ghose (2020), Logistics Strategy – The Key Building Blocks. Steel Tech – Vol 15 No 1, Oct 2020, ISSN: 0976–4232.
[6]	Esfandyar Ataei (2013), Application of TOPSIS and Fuzzy TOPSIS Methods for Plant Layout Design - World Applied Sciences Journal - 23 (12): 48-53, 2013, ISSN 1818-4952
[7]	Cheng-ShiungWu Chin-Tsai Lin, Chuan Lee (2010), Optimal marketing strategy: A decision-making with ANP and TOPSIS, International Journal of production Economics- Volume 27, Issue 1127 Pages 190-196.
[8]	Atul Shukla, Pankaj Agarwal, R. S. Rana, Rajesh Purohit (2017), Applications of TOPSIS Algorithm on various Manufacturing Processes: A Review; Materials Today: Proceedings; Vol. 4, Issue 4, Part D, Pages 5320 – 5329.
[9]	Mohit Deswal, S. K. Garg (2015), Application of TOPSIS A Multiple Criteria Decision Making Approach in Supplier Selection; International Journal of Advanced Technology in Engineering and Science; Vol: 3, Issue: 11; November 2015.
[10]	Katarzyna Halicka (2020) -Technology Selection using TOPSIS Method, Foresight and STI Governance, Vol. 14, No. 1; Retrieved from: https://www.researchgate.net/publication/340116130_Technology_Selection_Using_the_TOPSIS_Method
[11]	Ibayasid Bintoro, Rheo Malani, Rihartanto (2017) – Modelling Contractor Selection using Fuzzy-TOPSIS; 5th ICEEIE 2017; Retrieved from: https://ieeexplore.ieee.org/document/8328778
[12]	Mohsen Golbaharzadeh, Saeed Shahbazi, Mostafa Golbaharzadeh, and Hojatolah Asadinasab (2013) - Contractors ranking in construction projects based on a fuzzy decision-making method: A case study in the National Iranian Oil Company; European Online Journal of Natural and Social Sciences 2013, vol. 2, No. 3(s), pp. 1476-1483, ISSN 1805-3602.
[13]	Kou-Huang Chen, Chin-Nung Liao and Li-Chun Wu (2014) - A Selection Model to Logistic Centers Based on TOPSIS and MCGP Methods: The Case of Airline Industry; Journal of Applied Mathematics, Operational Research 2014, Volume 2014, Article ID 470128; Retrieved from: https://www.hindawi.com/journals/jam/2014/470128/
[14]	Dilip U Shenoy, Vinay Sharma, Shiva Prasad, H C (2020) - Strategic Evaluation in Optimizing the Internal Supply Chain using TOPIS: Evidence in a coil-winding machine manufacturer; Acta Mechanica Malaysia (AMM) 3 (1) (2020) 01-04; Retrieved from: https://actamechanicamalaysia.com/archives/1amm2020/1amm2020-01-04.pdf
[15]	Mohammad Javanshirgiv, Mohsen Safari (2017) - The Selection of an Underground Mining Method Using the Fuzzy TOPSIS Method: A Case Study in the Kamar Mahdi Ii Fluorine Mine; Mining Science 2017, Vol. 24; Retrieved from: http://www.miningscience.pwr.edu.pl/the-selection-of-an-underground-mining-method-using-the-fuzzy-topsis-method-a-case,78177,0,2.html

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APA Style

Partha Sarathi Ghose. (2021). Selection of Plant Location for a Steel Project by TOPSIS. World Journal of Applied Chemistry, 6(1), 1-5. https://doi.org/10.11648/j.wjac.20210601.11

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ACS Style

Partha Sarathi Ghose. Selection of Plant Location for a Steel Project by TOPSIS. World J. Appl. Chem. 2021, 6(1), 1-5. doi: 10.11648/j.wjac.20210601.11

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AMA Style

Partha Sarathi Ghose. Selection of Plant Location for a Steel Project by TOPSIS. World J Appl Chem. 2021;6(1):1-5. doi: 10.11648/j.wjac.20210601.11

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@article{10.11648/j.wjac.20210601.11,
  author = {Partha Sarathi Ghose},
  title = {Selection of Plant Location for a Steel Project by TOPSIS},
  journal = {World Journal of Applied Chemistry},
  volume = {6},
  number = {1},
  pages = {1-5},
  doi = {10.11648/j.wjac.20210601.11},
  url = {https://doi.org/10.11648/j.wjac.20210601.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.wjac.20210601.11},
  abstract = {In a complex business environment, the leadership team has to take certain decisions based on several criteria associated with the decision, some of which are quantifiable with real numbers while the remaining may be subjective or qualitative in nature, which may possibly be expressible linguistically or as a subjective comparison, though equally important for the final decision making. Such decision problems are called Multi-Criteria Decision Making (MCDM) problems. There are techniques available to deal with such problems by integrating all the criteria, quantitative or qualitative, in the decision algorithm and arriving at the most suitable alternatives among several choices available, through certain process steps. MCDM problems may be encountered in many areas of business like key project decisions, strategic decisions on inward and outward logistics, marketing decisions, process technology selection, supply chain decisions, marketing strategies, plant layout optimization etc. The major algorithms that can be conveniently applied to crack such decision problems are Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Weighted Sum Method (WSM). This article will attempt to solve a site selection problem for a Greenfield integrated steel project, considering several key selection criteria and certain alternative locations. For performing this exercise, the article shall use TOPSIS as the algorithm.},
 year = {2021}
}

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TY  - JOUR
T1  - Selection of Plant Location for a Steel Project by TOPSIS
AU  - Partha Sarathi Ghose
Y1  - 2021/01/28
PY  - 2021
N1  - https://doi.org/10.11648/j.wjac.20210601.11
DO  - 10.11648/j.wjac.20210601.11
T2  - World Journal of Applied Chemistry
JF  - World Journal of Applied Chemistry
JO  - World Journal of Applied Chemistry
SP  - 1
EP  - 5
PB  - Science Publishing Group
SN  - 2637-5982
UR  - https://doi.org/10.11648/j.wjac.20210601.11
AB  - In a complex business environment, the leadership team has to take certain decisions based on several criteria associated with the decision, some of which are quantifiable with real numbers while the remaining may be subjective or qualitative in nature, which may possibly be expressible linguistically or as a subjective comparison, though equally important for the final decision making. Such decision problems are called Multi-Criteria Decision Making (MCDM) problems. There are techniques available to deal with such problems by integrating all the criteria, quantitative or qualitative, in the decision algorithm and arriving at the most suitable alternatives among several choices available, through certain process steps. MCDM problems may be encountered in many areas of business like key project decisions, strategic decisions on inward and outward logistics, marketing decisions, process technology selection, supply chain decisions, marketing strategies, plant layout optimization etc. The major algorithms that can be conveniently applied to crack such decision problems are Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Weighted Sum Method (WSM). This article will attempt to solve a site selection problem for a Greenfield integrated steel project, considering several key selection criteria and certain alternative locations. For performing this exercise, the article shall use TOPSIS as the algorithm.
VL  - 6
IS  - 1
ER  -

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Author Information

Partha Sarathi Ghose

Kalyani Steels Limited, Pune, India

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Plain Text BibTeX RIS

APA Style

Partha Sarathi Ghose. (2021). Selection of Plant Location for a Steel Project by TOPSIS. World Journal of Applied Chemistry, 6(1), 1-5. https://doi.org/10.11648/j.wjac.20210601.11

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ACS Style

Partha Sarathi Ghose. Selection of Plant Location for a Steel Project by TOPSIS. World J. Appl. Chem. 2021, 6(1), 1-5. doi: 10.11648/j.wjac.20210601.11

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AMA Style

Partha Sarathi Ghose. Selection of Plant Location for a Steel Project by TOPSIS. World J Appl Chem. 2021;6(1):1-5. doi: 10.11648/j.wjac.20210601.11

Copy | Download

@article{10.11648/j.wjac.20210601.11,
  author = {Partha Sarathi Ghose},
  title = {Selection of Plant Location for a Steel Project by TOPSIS},
  journal = {World Journal of Applied Chemistry},
  volume = {6},
  number = {1},
  pages = {1-5},
  doi = {10.11648/j.wjac.20210601.11},
  url = {https://doi.org/10.11648/j.wjac.20210601.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.wjac.20210601.11},
  abstract = {In a complex business environment, the leadership team has to take certain decisions based on several criteria associated with the decision, some of which are quantifiable with real numbers while the remaining may be subjective or qualitative in nature, which may possibly be expressible linguistically or as a subjective comparison, though equally important for the final decision making. Such decision problems are called Multi-Criteria Decision Making (MCDM) problems. There are techniques available to deal with such problems by integrating all the criteria, quantitative or qualitative, in the decision algorithm and arriving at the most suitable alternatives among several choices available, through certain process steps. MCDM problems may be encountered in many areas of business like key project decisions, strategic decisions on inward and outward logistics, marketing decisions, process technology selection, supply chain decisions, marketing strategies, plant layout optimization etc. The major algorithms that can be conveniently applied to crack such decision problems are Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Weighted Sum Method (WSM). This article will attempt to solve a site selection problem for a Greenfield integrated steel project, considering several key selection criteria and certain alternative locations. For performing this exercise, the article shall use TOPSIS as the algorithm.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Selection of Plant Location for a Steel Project by TOPSIS
AU  - Partha Sarathi Ghose
Y1  - 2021/01/28
PY  - 2021
N1  - https://doi.org/10.11648/j.wjac.20210601.11
DO  - 10.11648/j.wjac.20210601.11
T2  - World Journal of Applied Chemistry
JF  - World Journal of Applied Chemistry
JO  - World Journal of Applied Chemistry
SP  - 1
EP  - 5
PB  - Science Publishing Group
SN  - 2637-5982
UR  - https://doi.org/10.11648/j.wjac.20210601.11
AB  - In a complex business environment, the leadership team has to take certain decisions based on several criteria associated with the decision, some of which are quantifiable with real numbers while the remaining may be subjective or qualitative in nature, which may possibly be expressible linguistically or as a subjective comparison, though equally important for the final decision making. Such decision problems are called Multi-Criteria Decision Making (MCDM) problems. There are techniques available to deal with such problems by integrating all the criteria, quantitative or qualitative, in the decision algorithm and arriving at the most suitable alternatives among several choices available, through certain process steps. MCDM problems may be encountered in many areas of business like key project decisions, strategic decisions on inward and outward logistics, marketing decisions, process technology selection, supply chain decisions, marketing strategies, plant layout optimization etc. The major algorithms that can be conveniently applied to crack such decision problems are Analytic Hierarchy Process (AHP), Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and Weighted Sum Method (WSM). This article will attempt to solve a site selection problem for a Greenfield integrated steel project, considering several key selection criteria and certain alternative locations. For performing this exercise, the article shall use TOPSIS as the algorithm.
VL  - 6
IS  - 1
ER  -

Copy | Download