Benchmarking CNC Machine Tool Using Hybrid-Fuzzy Methodology: A Multi-Indices Decision Making (MCDM) Approach

In today's era, managerial decision making has become a very momentous component due to the leverage of attention on achieving organizational goal i.e. enhancing effective utilization of input assets, satisfying customers' demand and minimizing loss (maximize profit). The evaluation of the most appropriate Computer Numerical Control (CNC) machine tool has become one of the key factors for sustaining the organization/manufacturing sectors/production units at competitive global market place. Productivity, precision and accuracy etc. are the most important issues behind adaptation/exploration of CNC machine tools. So, in such a cases, subjective indices are considered beside the objective indices and complexity of the CNC machine tool evaluation decision problems is solved via subjective assessments (judgment) of expert panel, also called the decision-making group. In this reporting, TOPSIS (technique for order preference by similarity to ideal solution) based Multi-Criteria Decision Making (MCDM) approach has fruitfully applied to emphasize the decision making scenario at the subjective information evaluation index (indices) platform. So, TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) analytical methodology conjunction with Trapezoidal Fuzzy Number (TFN) has been explored for assessing and benchmarking the most preferable CNC machine tool from a group of preferred options/alternatives. Finally, an empirical case study has been carried out check the feasibility, efficiency and validity of proposed methodology and the benchmarking of preferred alternative machine tool has been derived in accordance with descending value of the ‘collective index'. Higher value of ‘collective index' reflects higher degree of performance extent.