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Publikacije (217)

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Mali Ju, Ivan Mirović, Vesna Petrović, Ž. Erceg, Željko Stević

Abstract The impact of logistics performance in the era of sustainable mobility on the overall economic development of a country is inevitable. It can even be said to represent an extremely important component in identifying economic conditions and provides the possibility of defining adequate strategies. In this article, the evaluation of the member countries of the European Union was carried out on the basis of the logistics performance index (LPI) according to the latest report of the World Bank (WB). A unique and original Multiple-Criteria Decision Making (MCDM) approach has been created, and it involves the application of four methods: Criteria Importance Through Intercriteria Correlation, Method based on the Removal Effects of Criteria, and Entropy and Fuzzy ROV (Range of Value). The weighting coefficients of six factors were obtained with the first three methods in crisp form, so they were converted into Triangular Fuzzy Number. The Fuzzy ROV method has been created for the first time in the literature and represents a great contribution from the methodological aspect. The results of the developed model and the applied steps show that there are certain differences in the rankings compared to the World Bank report, with a note that the best-ranked countries have maintained their positions. In addition, verification tests of the originally obtained results were created, with an emphasis on the importance of evaluation parameter values and their impact on the LPI ranking.

Mahmut Baydaş, Orhan Emre Elma, Željko Stević

Financial performance analysis is of vital importance those involved in a business (e.g., shareholders, creditors, partners, and company managers). An accurate and appropriate performance measurement is critical for decision-makers to achieve efficient results. Integrated performance measurement, by its nature, consists of multiple criteria with different levels of importance. Multiple Criteria Decision Analysis (MCDA) methods have become increasingly popular for solving complex problems, especially over the last two decades. There are different evaluation methodologies in the literature for selecting the most appropriate one among over 200 MCDA methods. This study comprehensively analyzed 41 companies traded on the Borsa Istanbul Corporate Governance Index for 10 quarters using SWARA, CRITIC, and SD integrated with eight different MCDA method algorithms to determine the position of Turkey's most transparent companies in terms of financial performance. In this study, we propose "stock returns" as a benchmark in comparing and evaluating MCDA methods. Moreover, we calculate the "rank reversal performance of MCDA methods". Finally, we performed a "standard deviation" analysis to identify the objective and characteristic trends for each method. Interestingly, all these innovative comparison procedures suggest that PROMETHEE II (preference ranking organization method for enrichment of evaluations II) and FUCA (Faire Un Choix Adéquat) are the most suitable MCDA methods. In other words, these methods produce a higher correlation with share price; they have fewer rank reversal problems, the distribution of scores they produce is wider, and the amount of information is higher. Thus, it can be said that these advantages make them preferable. The results show that this innovative methodological procedure based on 'knowledge discovery' is verifiable, robust and efficient when choosing the MCDA method.

M. Bouraima, Ibrahim Badi, Željko Stević, C. Kiptum, D. Pamucar, Dragan Marinković

The Vehicle Routing Problem (VRP) is important in supply chain management as it optimizes goods and services delivery to customers, resulting in improved organizational productivity. This study introduces an innovative hybrid methodology integrating the Multi-Criteria Decision Making (MCDM) approach with Clarke and Wright’s savings algorithm to tackle the capacitated vehicle routing problem. In addition to the conventional aim of optimizing truck routes, this strategy considers customer satisfaction. The initial step involves clustering all customers through the utilization of Clarke and Wright’s savings algorithm, which efficiently organizes customers into groups based on their geographical closeness. Following this, the hybrid Best-Worst Method (BWM) and Ranking Alternatives For Similarity to Ideal Solution (RAFSI) method are utilized to allocate the best routes and establish customer prioritization. The major objective of this study is to reduce overall transportation expenses while ensuring compliance with vehicle capacity limitations, aiming to improve customer satisfaction. The proposed approach seeks to balance cost-efficiency and customer-centricity in vehicle routing by including customer prioritizing and Clarke and Wright’s savings algorithm. The effectiveness and practical application of the proposed methodology are demonstrated through a case in the food industry. The obtained results using the proposed methodology give a more precise platform for decision-making and highlight its relevance for enhancing supply chain performance and addressing the intricate challenges associated with the capacitated vehicle routing problem. The hybrid technique presented in this study provides a comprehensive framework for effectively tackling the intricate challenges associated with the capacitated vehicle routing problem.

Ning Wang, Yong Xu, Adis Puška, Željko Stević, A. Alrasheedi

Urban logistics implementation causes environmental pollution; therefore, it is necessary to consider the impact on the environment when carrying out such logistics. Electric vehicles are alternative vehicles that reduce the impact on the environment. For this reason, this study investigated which electric vehicle has the best indicators for urban logistics. An innovative approach when selecting such vehicles is the application of a fuzzy–rough method based on expert decision making, whereby the decision-making process is adapted to the decision makers. In this case, two methods of multi-criteria decision making (MCDM) were used: SWARA (stepwise weight assessment ratio analysis) and MARCOS (measurement alternatives and ranking according to compromise solution). By applying the fuzzy–rough approach, uncertainty is included when making a decision, and it is possible to use linguistic values. The results obtained by the fuzzy–rough SWARA method showed that the range and price of electric vehicles have the greatest influence on the selection of an electric delivery vehicle. The results of applying the fuzzy–rough MARCOS method indicated that the Kangoo E-Tech Electric vehicle has the best characteristics according to experts’ estimates. These results were confirmed by validation and the application of sensitivity analysis. In urban logistics, the selection of an electric delivery vehicle helps to reduce the impact on the environment. By applying the fuzzy–rough approach, the decision-making problem is adjusted to the preferences of the decision makers who play a major role in purchasing a vehicle.

Almedina Hadžikadunić, Željko Stević, Morteza Yazdani, Violeta Doval Hernandez

: Within the evolving landscape of modern business, a proficient logistics sector stands paramount in fostering regional and global competitive edges. A country's logistics performance, gauged aptly, can influence not just the business outcomes of individual enterprises but also shape the nation's holistic logistics efficacy. This study delves into an examination of logistics standards in European Union (EU) countries, viewed through the lens of the Logistics Performance Index (LPI) as reported by the World Bank. The primary focus is on the LPI data for 2023, with a subsequent exploration of the EU’s performance trajectory from 2007 to 2018. The findings illuminate that specific EU countries consistently uphold superior logistics proficiency, while striving for advancements. Beyond these front runners, many EU countries manifest commendable logistics outcomes, positioning themselves favorably on the global stage.

Ming Xu, Chunjing Bai, Lei Shi, Adis Puška, Andjelka Stilic, Željko Stević

The sustainable development of mountain tourism is crucial for preserving the delicate ecosystems and resources found in these unique landscapes. This research paper investigates the sustainability of mountain lodges, which serve as essential facilities for delivering mountain tourism services. To assess sustainability, expert decision making involving eight selected experts was employed. A hybrid approach combining the IMF SWARA (IMproved Fuzzy Step-wise Weight Assessment Ratio Analysis) method with Fuzzy Dombi Aggregation Operators was utilized to determine the weights of various sustainability criteria. The IMF SWARA method assigned initial weights based on expert input, which were subsequently adjusted using Fuzzy Dombi Aggregation Operators. The findings highlight the significance of two key criteria as per expert evaluations: the quality of the services offered (C21) and the preservation of natural resources (C15). To rank and evaluate the mountain lodges, the fuzzy CRADIS (Compromise Ranking of Alternatives from Distance to Ideal Solution) method was employed, ultimately identifying Zabrana (ML6) as the top-ranked mountain lodge. The validity of these results was confirmed through result validation and sensitivity analysis. This research contributes by providing insights into the current state of mountain tourism and offering guidelines for enhancing the overall mountain tourism experience through the integration of fuzzy methods.

Sukhwinder Singh Rawat, Komal, Peide Liu, Željko Stević, Tapan Senapati, Sarbast Moslem

In multi-attribute group decision-making (MAGDM), the attributes can be placed into independent groups based on their properties through partitioning. First, the partitioned dual Hamy mean (PDHM) operator is introduced, along with its essential properties. This operator integrates these separate groups while preserving the relationships between the attributes within each group. Furthermore, the partitioned Hamy mean (PHM) and the PDHM operators are also constructed in the generalized orthopair fuzzy environment, namely the q-rung orthopair fuzzy PHM (q-ROFPHM), the q-rung orthopair fuzzy PDHM (q-ROFPDHM), and their weighted forms. Their essential properties are verified to ensure the validity of the proposed aggregation operators (AOs). Subsequently, a new MAGDM approach is developed, employing the proposed AOs. The MAGDM problem of selecting the best person is examined. Moreover, the research includes a sensitivity analysis in three directions and a comparative analysis of the proposed MAGDM approach with five different approaches. The findings indicate that applying attribute partitioning in the proposed approach mitigates the adverse impact of irrelevant attributes, leading to more feasible and reliable outcomes. Additionally, a practical case study focuses on selecting a suitable industry for investment among the five available options. This case study demonstrates the approach’s effectiveness by considering five distinct qualities and results that make the Internet industry the best place to invest. Furthermore, a comparative analysis with four similar papers is also performed, indicating that the developed method’s results are more reliable and consistent.

A. Ulutaş, Figen Balo, Katarina Mirković, Željko Stević, M. Mostafa

In the context of sustainable buildings, an ecological study of building and insulating materials is critical since it may assist affirm or shift the path of new technology development. Utilising sustainable material is a part of the sustainable improvement. For this reason, material fabrication is the primary process for the energy usage and release of intense environmental gaseous. The fabrication of the insulation and building materials, as in every fabrication process, comprises an energy consumption of crude materials in addition to the pollutants’ release. In buildings, insulation is a relevant technological resolution for cutting energy usage. This study aims to assess the primary energy consumption and the environmental effects of the fabrication of building and thermal isolation materials by using a new hybrid MCDM model. The proposed new hybrid MCDM model includes Fuzzy FUCOM, CCSD and CRADIS methods. While the subjective weights of the criteria were determined with the fuzzy FUCOM method, the objective weights of the criteria were determined with the CCSD method. Construction materials were listed with the CRADIS method. According to the fuzzy FUCOM method, the most important criterion was determined as the CR3 criterion, while the most important criterion according to the CCSD method was determined as the CR1 criterion. According to the combined weights, the most important criterion was determined as the CR3 criterion. According to the CRADIS method, the material with the best performance was determined as Cement Plaster. The methodology used in this study is a novel approach therefore it has not been used in any study before. In addition, since the CRADIS method is a newly developed MCDM method, the number of articles related to this method is low. Therefore, this research gap will be filled with this study.

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