A fuzzy multi attribute decision making approach for evaluating effectiveness of advanced manufacturing technology ‐ in Indian context

Globalisation has increased opportunities for the manufacturers, as it has increased the customer size but at the same time it has brought competition. Customers are enjoying the variety of products at the minimum cost. Because of this, manufacturers are striving to improve their flexibility, quality of product, delivery time, etc. Manufacturers are adopting advanced manufacturing technologies (AMT), so as to meet these requirements. Adoption of (AMT) is a colossal investment and decision should be taken with proper evaluation. From the literature survey, it is proved that traditional financial methods for evaluating the effectiveness of AMT are not enough as it also enhances many intangible factors like flexibility, quality, employees' satisfaction etc. Therefore, in this paper an endeavour has been made to develop a model for the evaluation of AMT investments by using fuzzy graph theoretic approach (FGTA). FGTA quantifies the intangible factors and based upon these factors gives a single numerical index which is useful for managers to evaluate the effectiveness of AMT.