A multi criteria decision-making approach to evaluate automated storage and retrieval systems

Abstract

In the globalised world, it is important for companies to make fast, efficient, accurate and cost-effective investments with a view to survive and stand out among their rivals. While making an investment decision; there is a need for a decision-making process that is based on multiple criteria in order to determine the best alternative according to the indefinite or uncertain values of the criteria. In this study, stochastic multi-criteria acceptability analysis (SMAA-2) method, which depends on uncertainties, was used to rank the automated storage and retrieval system (AS/RS) alternatives and to select the most suitable one satisfying the expectations of decision makers. Eleven criteria were used for evaluating and ranking three AS/RS alternatives in this approach. Three different cases were studied in SMAA-2. Proposed model was used for selecting the best appropriate system in an electronic company.