MACBETHSort: a multiple criteria decision aid procedure for sorting strategic products

MACBETHSort: a multiple criteria decision aid procedure for sorting strategic products

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Article ID: iaor2017209
Volume: 68
Issue: 1
Start Page Number: 53
End Page Number: 61
Publication Date: Jan 2017
Journal: J Oper Res Soc
Authors: ,
Keywords: marketing, decision, decision theory: multiple criteria
Abstract:

Efficient companies need to know which their strategic products are. For this purpose, the ABC classification based on the item’s value was developed and was used for a long time. Later, it was recognised that several other criteria need to be considered and multi‐criteria ranking methods were applied. However, the classes have always been defined based only on a relative proportion. Therefore, the number of products in a class is independent of the actual importance of the products. In this paper, a new sorting procedure MACBETHSort is introduced, which is an evolution of the choice, ranking and rating technique MACBETH. The procedure has been validated in a real case study for assigning access and entrance solutions in ABC classes.

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