Language
Country/Area
No result found
From 1979 to 2024: How does the VIKOR method lead the new trend in multi-criteria decision-making?
Multi-criteria decision-making (MCDM) provides a systematic approach when faced with complex and conflicting choices. The VIKOR method has undergone continuous development since 1979. The core idea behind it is how to find a compromise among numerous opinions, and this method has attracted profound attention from scholars and professionals around the world. This article will take a closer look at the history, steps and trends of the VIKOR method in 2024.
The VIKOR method is a tool for finding the best compromise, providing an alternative that is closest to the ideal solution under all criteria.
Historical overview
The origins of the VIKOR method can be traced back to 1973, when Po-Lung Yu and Milan Zeleny first proposed the concept of a compromise solution. The idea was further developed in Serafim Opricovic's doctoral thesis and first applied in 1980. In 1990, the name VIKOR officially appeared, derived from the Serbian "Multicriteria Optimization and Compromise Solution". In 1998, the first real-life application case of this method was published.
The core of VIKOR is to solve the problem of weighing the impact of multiple conflicting criteria on decision-making.
Steps of the VIKOR method
VIKOR method mainly includes the following steps:
- Determine the best and worst values for all criteria.
- Compute weighted and unweighted distances for each alternative.
- Calculate the indicator Q value according to different weight strategies.
- Sort the alternatives to get three ranked lists.
- Propose the best alternative as a compromise solution and check whether stability and acceptability conditions are met.
This method can effectively integrate multiple conflicting decision-making criteria and provide decision-makers with a clear direction of choice.
Comparative analysis
In a 2007 study, a comparative analysis of multi-criteria decision-making methods such as VIKOR, TOPSIS, ELECTRE and PROMETHEE was conducted. Each of these methods has its own characteristics and advantages, and can provide solutions according to different application scenarios. For example, Sayadi et al. extended VIKOR to handle interval data, while Heydari et al. proposed an extended method for large nonlinear programming problems.
Fuzzy VIKOR method
With the increasing influence of uncertainty in the decision-making process, the fuzzy VIKOR method emerged as the times require. This method handles imprecise numerical quantities using triangular fuzzy numbers and evaluates the distance of each alternative based on fuzzy merging merits. The emergence of this method enables decision-makers to maintain clear decision-making ideas when facing uncertainty.
The development of the fuzzy VIKOR method marks a sign of continued progress in the field of multi-criteria decision-making and is applicable to more complex environments.
Conclusion
The VIKOR method has continued to evolve in recent decades, from its initial theoretical model to its widespread use in various industries, demonstrating its endless potential. Today's decision-making process increasingly relies on this systematic multi-criteria evaluation tool, which not only provides the optimal solution, but also helps decision-makers find a balance among multiple considerations. Looking to the future, how will the VIKOR approach further adapt to current challenges and take on the responsibility of leading multi-criteria decision-making?
