Group multi-attribute decision model to partner selection in the formation of virtual enterprise under incomplete information

  • Authors:

  • Fei Ye;Yi-Na Li

  • Affiliations:

  • School of Business Administration, South China University of Technology, Guangzhou 510640, PR China;School of Business Administration, South China University of Technology, Guangzhou 510640, PR China

  • Venue:
  • Expert Systems with Applications: An International Journal
  • Year:
  • 2009

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Abstract

Partner selection is very important in the formation of a virtual enterprise. However, in many practical situations, during the partner selection process, the decision makers are generally unsure of their preferences because the information about the candidates and their performances are incomplete and uncertain. Therefore, two MADM (multi-attribute decision model) methods for group decision making with interval values are proposed to solve partner selection problem under incomplete information in this paper. The first method is a technique for order preference by similarity to ideal solution (TOPSIS) for group decision making based on deviation degree. The second method is a TOPSIS for group decision making based on risk factor. Finally, an illustrative example is used to demonstrate the feasibility and practicability of these two extended TOPSIS methods for group decision making with interval values. Results show that these two extended TOPSIS methods for group decision making with interval values can effectively deal with the partner selection problem under incomplete information.