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Publikacije (194)

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D. Andjelković, G. Stojić, Nikola Nikolić, Dillip Kumar Das, Marko Subotić, Željko Stević

The capacity of transport infrastructure is one of the very important tasks in transport engineering, which depends mostly on the geometric characteristics of road and headway analysis. In this paper, we have considered 14 road sections and determined their efficiency based on headway analysis. We have developed a novel interval fuzzy-rough-number decision-making model consisting of DEA (data envelopment analysis), IFRN SWARA (interval-valued fuzzy-rough-number stepwise weight-assessment-ratio analysis), and IFRN WASPAS (interval-valued fuzzy-rough-number weighted-aggregate sum–product assessment) methods. The main contribution of this study is a new extension of WASPAS method with interval fuzzy rough numbers. Firstly, the DEA model was applied to determine the efficiency of 14 road sections according to seven input–output parameters. Seven out of the fourteen alternatives showed full efficiency and were implemented further in the model. After that, the IFRN SWARA method was used for the calculation of the final weights, while IFRN WASPAS was applied for ranking seven of the road sections. The results show that two sections are very similar and have almost equal efficiency, while the other results are very stable. According to the results obtained, the best-ranked is a measuring segment of the Ivanjska–Šargovac section, with a road gradient = −5.5%, which has low deviating values of headways according to the measurement classes from PC-PC to AT-PC, which shows balanced and continuous traffic flow. Finally, verification tests such as changing the criteria weights, comparative analysis, changing the λ parameter, and reverse rank analysis have been performed.

Subrata Jana, B.C. Giri, Anirban Sarkar, C. Jana, Željko Stević, Marko Radovanović

Abstract By providing important indicators, financial indices help investors make educated judgements regarding their assets, much like vital sign monitors for the financial markets. The best way for investors to keep up with the market and make strategic adjustments is to keep an eye on these indexes. Researching the most important financial indexes for making educated investing decisions is, thus, quite relevant. Finding the most essential financial indices from an investing standpoint and assigning a weight to each of those indexes are the main goals of this research. A weighted score is derived by combining four financial indices in a Multi-Criteria Decision-Making (MCDM) technique. These objectives are then pursued. Triangular Fuzzy Numbers (TFNs) and the Fuzzy Analytic Hierarchy Process (F-AHP) are used to determine the weights of criteria in this technique. Using these methods together, the research hopes to provide a thorough analysis of the role that different financial indexes have in informing investment choices. This study emphasizes the paramount importance of considering the Price Earning to Growth (PEG) ratio when making investment decisions, followed by the Debt Equity Ratio. Price to Book Value and Dividend Yield, while relevant, carry comparatively less weightage in the overall assessment. Investors are advised to use these insights as a guideline in their financial analysis and decision-making processes.

Orhan Emre Elma, Željko Stević, Mahmut Baydaş

Multi-criteria decision analysis (MCDA) applications consist of techniques that enable the decision maker to make clearer decisions in scenarios where there is more than one alternative and criterion. The general approach for sensitivity analysis in MCDA applications implies sensitivity to the weight coefficient. In this study, as an alternative approach, we reinterpret sensitivity by using the statistical relationship between the final ranking produced by an MCDA method and a constant external factor. Thus, we both verify through an anchor and reveal to what extent the change in the weight coefficient changes the external relations of MCDA. The motivation for this study is to propose an alternative sensitivity methodology. On the other hand, brand value is a parameter that contains critical information about the future of the company, which has not integrated into financial performance studies made with MCDAs before. To that end, the financial performance of 31 companies with the highest brand value in Turkey and trading on Borsa Istanbul between 2013 and 2022 was analyzed with seven different MCDA applications via integrating brand value into the criteria for the first time. The study’s findings revealed that the proposed innovative sensitivity tests produced similarly robust results as traditional tests. In addition, brand value has been proved to be an advantageous criterion to be implemented into MCDAs for financial performance problems through the sensitivity analysis made.

Ibrahim Badi, M. Bouraima, Yanjun Qiu, Željko Stević

Priority sequencing criteria are of utmost importance in the determination of the sequence in which jobs are processed at workstations in parallel machine scheduling. The utilization of diverse priority rules can result in varied sequencing arrangements, hence requiring more experimentation to ascertain the optimal rule. Hence, it is imperative to formulate a thorough approach for the selection of the most suitable priority sequencing rule from the standpoint of management decision-making. The objective of this research is to analyze and compare six different priority sequencing rules in the context of parallel machine scheduling. Additionally, a methodology is proposed for the assessment and selection of the most suitable rule. This methodology combines the full consistency method (FUCOM) with the measurement of alternatives and ranking according to compromise solution (MARCOS) method, which are both multi-criteria decision-making techniques. When reviewing and selecting the optimal priority sequencing rule, seven parameters are taken into consideration. The weights of these criteria are computed using the FUCOM method, while the relative proximity values of all priority sequencing rules are derived by the MARCOS method. The data indicate that the priority sequencing rules are prioritized according to their level of importance. The approach outlined in this study is essential for workstation management to make well-informed decisions regarding the choice of the most advantageous priority sequencing rule for parallel machine scheduling.

Mali Ju, Ivan Mirović, Vesna Petrović, Ž. Erceg, Željko Stević

Abstract The impact of logistics performance in the era of sustainable mobility on the overall economic development of a country is inevitable. It can even be said to represent an extremely important component in identifying economic conditions and provides the possibility of defining adequate strategies. In this article, the evaluation of the member countries of the European Union was carried out on the basis of the logistics performance index (LPI) according to the latest report of the World Bank (WB). A unique and original Multiple-Criteria Decision Making (MCDM) approach has been created, and it involves the application of four methods: Criteria Importance Through Intercriteria Correlation, Method based on the Removal Effects of Criteria, and Entropy and Fuzzy ROV (Range of Value). The weighting coefficients of six factors were obtained with the first three methods in crisp form, so they were converted into Triangular Fuzzy Number. The Fuzzy ROV method has been created for the first time in the literature and represents a great contribution from the methodological aspect. The results of the developed model and the applied steps show that there are certain differences in the rankings compared to the World Bank report, with a note that the best-ranked countries have maintained their positions. In addition, verification tests of the originally obtained results were created, with an emphasis on the importance of evaluation parameter values and their impact on the LPI ranking.

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