Entropy Assisted TOPSIS Model With Application to Supplier Selection Problem

Abstract

In this paper, we use a modified entropy assisted TOPSIS (Technique for Order Performance by Similarity to Ideal Solution) model to rank suppliers in terms of their overall performances to various criteria within supply chain. An illustrative numerical example is solved to show the effectiveness and feasibility of the suggested model and to demonstrate how the approach is used in the supplier selection problem. To ensure fairness in the selection process objective weights are derived from the decision matrix. This entropy approach reflects the subjective information in the decision matrix and as a result yields the relative weights of the multiple evaluation criteria.
Keywords: , , Objective, S, Supply chain,
Subjective information.