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: | Ishizaka Alessio, Gordon Maynard |
Keywords: | marketing, decision, decision theory: multiple criteria |
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.