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Multicriteria ABC Inventory Classification Using a Group Decision Making Method with Individual Preferences

Author

Listed:
  • Yang Xu

    (School of Economics & Management, Xi’an Technological University, Xi’an, P. R. China)

  • Yelin Fu

    (College of Economics, Shenzhen University, Shenzhen, P. R. China)

  • Yu Chen

    (Department of Industrial & Manufacturing Systems Engineering, The University of Hong Kong, Hong Kong)

  • Kin Keung Lai

    (Department of Industrial & Manufacturing Systems Engineering, The University of Hong Kong, Hong Kong)

Abstract

This paper proposes a group decision making model with individual preferences to investigate the multicriteria ABC inventory classification problem. We first propose a preliminary group decision matrix by means of identifying the individual preference among the classification criteria as a typical decision maker; then analyze the endogenous individual preference structure in terms of exploring the preferential difference and preferential priority, a revised group decision matrix is therefore presented; thirdly, make the use of SMAA-2 to derive the holistic acceptability index for classifying the SKUs. A satisfaction index is developed to manifest the merits of proposed method. A numerical illustration using the data drawn from previous studies is performed to indicate the applicability and feasibility of our method.

Suggested Citation

  • Yang Xu & Yelin Fu & Yu Chen & Kin Keung Lai, 2023. "Multicriteria ABC Inventory Classification Using a Group Decision Making Method with Individual Preferences," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 40(06), pages 1-19, December.
    • Handle: RePEc:wsi:apjorx:v:40:y:2023:i:06:n:s0217595922500361
    DOI: 10.1142/S0217595922500361
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