AN EFFICIENT MADM METHOD: ELECTROMAGNETISM-LIKE METHOD FOR SELECTION AND ORDERING

Abstract

Multiple Attribute Decision Making methods aims to improve the quality of decisions in various fields of management science. Decision makers are mostly faced with new decisions involving conflicting multiple objectives. Practically, these problems include a ranking information including individual/group judgments on a number of pre-determined alternatives with respect to different criteria. This study proposes a new method, called Electromagnetism-like Method for Selection and Ordering, to select the best alternative and/or to determine the rank order of finite number of alternatives. We investigated the performance of proposed method and achieved satisfactory results for many selection and ordering case. The comparative analysis with other multiple criteria decision making methods verifies the performance of the proposed method. The results show that the method is a useful tool to assist decision-makers in terms selection and ordering decisions.