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An integrated fuzzy multi-criteria group decision-making approach for supplier evaluation and selection in oil and gas industry

Author

Listed:
  • Mohammad Akhtar
  • Biranchi Prasad Panda
  • Aijaz Ahmad Khan

Abstract

Supplier selection is an important and strategic decision of supply chain. Identifying and selecting the right suppliers to provide specialty chemicals, spares parts, oils and lubricant in an oil and gas industry impacts oilfield operations, supply chain performance and competitiveness of the firm. The supplier evaluation and selection is based on multiple quantitative and qualitative criteria. Thus, it is a multi-criteria group decision making (MCGDM) problem which involves importance ratings of suppliers with respect to criteria by group of decision makers (DMs) which are vague and imprecise. In this paper, a supplier's evaluation and selection based on nine criteria has been demonstrated using integrated fuzzy entropy (FEntropy) and fuzzy complex proportional assessment (FCOPRAS) methods in an Indian oil and gas company. Fuzzy entropy method is used for objective weight determination of criteria while FCOPRAS for suppliers ranking and selection.

Suggested Citation

  • Mohammad Akhtar & Biranchi Prasad Panda & Aijaz Ahmad Khan, 2021. "An integrated fuzzy multi-criteria group decision-making approach for supplier evaluation and selection in oil and gas industry," International Journal of Business Performance and Supply Chain Modelling, Inderscience Enterprises Ltd, vol. 12(2), pages 147-178.
    • Handle: RePEc:ids:ijbpsc:v:12:y:2021:i:2:p:147-178
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