TITLE

Application of AHP and Taguchi loss functions in evaluation of advanced manufacturing technologies

AUTHOR(S)
Ordoobadi, Sharon
PUB. DATE
August 2013
SOURCE
International Journal of Advanced Manufacturing Technology;Aug2013, Vol. 67 Issue 9-12, p2593
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The purpose of this study is to develop the decision model to help decision makers with their technology selection. Evaluation and selection of a new technology is a multi-criteria decision-making process encompassing various tangible and intangible factors. Thus, these factors should be identified for inclusion in the evaluation process. A thorough analysis of the impact, both positive and negative, of such factors on the organization is also required in the evaluation technique. Therefore, the first step in the development of a decision model for evaluation of technology alternatives is the identification of the pertinent factors. To accomplish this, both risks and benefits of implementing a new technology are identified for inclusion in the evaluation process. Once pertinent risks and benefits are identified, a mechanism for analysis of these factors is developed. Since these factors can be objective and subjective, a hybrid approach that applies to both quantitative and qualitative factors is used in the development of the model. Taguchi loss function is used to measure performance of each technology candidate with respect to the risk and benefit categories. Appropriate Taguchi loss functions are formulated based on the target value and the specification limits set by the decision maker. These loss functions are then used to calculate Taguchi loss scores for each technology alternative. Analytic hierarchy process (AHP) is used to determine the relative importance of the risks and benefits to the decision maker. The weighted loss scores are calculated for each technology alternative by using the relative importance as the weights. The composite weighted loss scores are then calculated and used for ranking of the technology alternatives. The technology with the smallest composite loss score is recommended for adoption. The proposed model provides guidelines for managers to make an informed decision regarding technology selection. In addition, combining Taguchi loss function and AHP provides a novel approach for ranking of the potential technology alternatives for implementation purposes.
ACCESSION #
89397540

 

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