A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER

The aim of this research is to evaluate the proposed bids using impartial and entropy weights in a multi-criteria decision-making model. We use matrix data for hypothetical bidding involving nine criteria, with the presence of four domestic and two foreign contractors. Then, using cumulative entropy...

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Autores principales:	A. O. Matin, F. Misagh
Formato:	article
Lenguaje:	RU
Publicado:	Real Economics Publishing House 2019
Materias:	mcdm entropy bidding quotation reliability Risk in industry. Risk management HD61
Acceso en línea:	https://doaj.org/article/a0924d6db48d4e0ba7c664e9ecff71d3
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spelling	oai:doaj.org-article:a0924d6db48d4e0ba7c664e9ecff71d32021-11-19T10:42:00ZA MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER2618-947X2618-998410.17747/2618-947X-2019-1-46-51https://doaj.org/article/a0924d6db48d4e0ba7c664e9ecff71d32019-05-01T00:00:00Zhttps://www.jsdrm.ru/jour/article/view/820https://doaj.org/toc/2618-947Xhttps://doaj.org/toc/2618-9984The aim of this research is to evaluate the proposed bids using impartial and entropy weights in a multi-criteria decision-making model. We use matrix data for hypothetical bidding involving nine criteria, with the presence of four domestic and two foreign contractors. Then, using cumulative entropy function, we estimate the entropy weights and use it in a multi-criteria decision-making model. The criteria of experience and knowledge in the field, good history and satisfaction in previous projects, financial and support capabilities, localization of the contractor, having the experience at the site of the project, availability and readiness of equipment and machines, the adequacy of technical staff, the work quality system, the efficient management and appropriate management system, creativity and innovation in similar tasks are the input variables of the decision model. After analyzing them, the proposals are prioritized through a multi-criteria decision-making model. The research findings include Shannon entropy and cumulative entropy-based weights for evaluation criteria and after applying the specific weight for the proposed quotation, the utility rate of each contractor is calculated. The results showed that the use of modified multi-dimensional decision-making method is more advantageous than traditional methods of evaluating bidding proposals in selecting the winner of a tender, and also using cumulative entropy weights in comparison with Shannon's leads to a more realistic choice of contractors.A. O. MatinF. MisaghReal Economics Publishing House articlemcdmentropybiddingquotationreliabilityRisk in industry. Risk managementHD61RU Strategičeskie Rešeniâ i Risk-Menedžment, Vol 10, Iss 1, Pp 46-51 (2019)
institution	DOAJ
collection	DOAJ
language	RU
topic	mcdm entropy bidding quotation reliability Risk in industry. Risk management HD61
spellingShingle	mcdm entropy bidding quotation reliability Risk in industry. Risk management HD61 A. O. Matin F. Misagh A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
description	The aim of this research is to evaluate the proposed bids using impartial and entropy weights in a multi-criteria decision-making model. We use matrix data for hypothetical bidding involving nine criteria, with the presence of four domestic and two foreign contractors. Then, using cumulative entropy function, we estimate the entropy weights and use it in a multi-criteria decision-making model. The criteria of experience and knowledge in the field, good history and satisfaction in previous projects, financial and support capabilities, localization of the contractor, having the experience at the site of the project, availability and readiness of equipment and machines, the adequacy of technical staff, the work quality system, the efficient management and appropriate management system, creativity and innovation in similar tasks are the input variables of the decision model. After analyzing them, the proposals are prioritized through a multi-criteria decision-making model. The research findings include Shannon entropy and cumulative entropy-based weights for evaluation criteria and after applying the specific weight for the proposed quotation, the utility rate of each contractor is calculated. The results showed that the use of modified multi-dimensional decision-making method is more advantageous than traditional methods of evaluating bidding proposals in selecting the winner of a tender, and also using cumulative entropy weights in comparison with Shannon's leads to a more realistic choice of contractors.
format	article
author	A. O. Matin F. Misagh
author_facet	A. O. Matin F. Misagh
author_sort	A. O. Matin
title	A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
title_short	A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
title_full	A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
title_fullStr	A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
title_full_unstemmed	A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER
title_sort	modified mcdm algorithm with cumulative entropy weights for selecting the winner of the tender
publisher	Real Economics Publishing House
publishDate	2019
url	https://doaj.org/article/a0924d6db48d4e0ba7c664e9ecff71d3
work_keys_str_mv	AT aomatin amodifiedmcdmalgorithmwithcumulativeentropyweightsforselectingthewinnerofthetender AT fmisagh amodifiedmcdmalgorithmwithcumulativeentropyweightsforselectingthewinnerofthetender AT aomatin modifiedmcdmalgorithmwithcumulativeentropyweightsforselectingthewinnerofthetender AT fmisagh modifiedmcdmalgorithmwithcumulativeentropyweightsforselectingthewinnerofthetender
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A MODIFIED MCDM ALGORITHM WITH CUMULATIVE ENTROPY WEIGHTS FOR SELECTING THE WINNER OF THE TENDER

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