A novel MCDM model for warehouse location selection in supply chain management
The present investigation reveals a novel method for the evaluation of warehouse location for leagile supply chain entailing Fuzzy Multi Criteria Analysis (FMCA). An attempt has been made to apply the concept of decision theory for selecting the warehouse under contradictory criteria. Aggregate Modified Weighted Value (MWV) of normalized score of alternative is determined to evaluate Benefit Cost Ratio (BCR) which is considered as the warehouse selection index. The proposed algorithm is illustrated with a suitable numerical example to adjudge its desirable importance in capability and practicability. It also ensured that the achieved result clearly matches with those of previous research works. Finally, sensitivity analysis has been carried out that justify and supports the application of proposed algorithm in finding the most favorable outcome to the selection problem of warehouse location.
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