An Integrated ABC-FUCOM Model for Product Classification

Authors

  • Željko Stević University of East Sarajevo, Faculty of Transport and Traffic Engineering Author https://orcid.org/0000-0003-4452-5768
  • Adna Bašić Faculty of Transport and Traffic Engineering, University of East Sarajevo, 74000 Doboj, Bosnia and Herzegovina Author
  • Sarbast Moslem School of Architecture, Planning and Environmental Policy, University College Dublin, Dublin, Ireland Author https://orcid.org/0000-0003-4587-7482
  • Kaiyang Zhong College of Information Science & Electronic Engineering, Zhejiang University, Hangzhou, China Author

DOI:

https://doi.org/10.31181/sems1120239k

Keywords:

ABC analysis, FUCOM, Products, Classification, MCDM

Abstract

Grouping products to determine their impact on business is a necessity. Therefore, in this paper, the integration of ABC analysis and the full consistency method (FUCOM) for determining a group of products is carried out. FUCOM is used to obtain the weighting coefficients for a group of products of Gorenje appliances. The research was conducted in the "Mepromex" shopping mall. The FUCOM method is applied to determine the values of three criteria: unit price, quantity, and annual procurement value. These criteria play a major role in the final sorting of products in this type of analysis. Additionally, a comparative analysis (i.e. single-criterion ABC analysis) is performed for each criterion separately.

Downloads

Download data is not yet available.

References

Pupavac, D. (2006). Optimalizacija proizvodnje unutar logističkog lanca za 21. stoljeće. Zbornik radova Ekonomskog fakulteta u Rijeci, 24(2), 291-304.

Pamučar, D., Stević, Ž., & Sremac, S. (2018). A new model for determining weight coefficients of criteria in mcdm models: Full consistency method (fucom). Symmetry, 10(9), 393. https://doi.org/10.3390/sym10090393.

Erceg, Ž., Starčević, V., Pamučar, D., Mitrović, G., Stević, Ž., & Žikić, S. (2019). A new model for stock management in order to rationalize costs: ABC-FUCOM-interval rough CoCoSo model. Symmetry, 11(12), 1527. https://doi.org/10.3390/sym11121527.

Ibrahimović, F. I., Kojić, S. L., Stević, Ž. R., & Erceg, Ž. J. (2019). Making an investment decision in a transportation company using an integrated FUCOM-MABAC model. Tehnika, 74(4), 577-584. https://doi.org/10.5937/tehnika1904577I.

Stević, Ž. R., Ibrahimović, F. I., & Mirčetić, D. D. (2020). Rationalization of processes in storage system using ABC analysis and multi-criteria decision-making. Tehnika, 75(5), 621-628. https://doi.org/10.5937/tehnika2005621S.

Vukasović, D., Gligović, D., Terzić, S., Stević, Ž., & Macura, P. (2021). A novel fuzzy MCDM model for inventory management in order to increase business efficiency. Technological and Economic Development of Economy, 27(2), 386-401. https://doi.org/10.3846/tede.2021.14427.

Prentkovskis, O., Erceg, Ž., Stević, Ž., Tanackov, I., Vasiljević, M., & Gavranović, M. (2018). A new methodology for improving service quality measurement: Delphi-FUCOM-SERVQUAL model. Symmetry, 10(12), 757. https://doi.org/10.3390/sym10120757.

Fazeli, H. R., & Peng, Q. (2023). Integrated approaches of BWM-QFD and FUCOM-QFD for improving weighting solution of design matrix. Journal of Intelligent Manufacturing, 34(3), 1003-1020. https://doi.org/10.1007/s10845-021-01832-w.

Chakraborty, S., Sarkar, B., & Chakraborty, S. (2023). A FUCOM-MABAC-based integrated approach for performance evaluation of the Indian National Parks. OPSEARCH, 60(1), 125-154. https://doi.org/10.1007/s12597-022-00611-2.

Durmić, E. (2019). Evaluation of criteria for sustainable supplier selection using FUCOM method. Operational Research in Engineering Sciences: Theory and Applications, 2(1), 91-107. https://doi.org/10.31181/oresta1901085d.

Ziyadin, S., Sousa, R. D., Suieubayeva, S., Yergobek, D., & Serikbekuly, A. (2020). Differentiation of logistics services on the basis ABC analysis. In E3S Web of Conferences (Vol. 159, p. 04034). EDP Sciences. https://doi.org/10.1051/e3sconf/202015904034.

Kampf, R., Lorincová, S., Hitka, M., & Caha, Z. (2016). The application of ABC analysis to inventories in the automatic industry utilizing the cost saving effect. NAŠE MORE: znanstveni časopis za more i pomorstvo, 63(3 Special Issue), 120-125. https://doi.org/10.17818/NM/2016/SI8.

Yu, M. C. (2011). Multi-criteria ABC analysis using artificial-intelligence-based classification techniques. Expert Systems with Applications, 38(4), 3416-3421. https://doi.org/10.1016/j.eswa.2010.08.127.

Chawla, V., Itika, I., Singh, P., & Singh, S. (2024). A fuzzy Pythagorean TODIM method for sustainable ABC analysis in inventory management. Journal of Future Sustainability, 4(2), 85-100. http://dx.doi.org/10.5267/j.jfs.2024.5.003.

Downloads

Published

2023-12-01

Issue

Vol. 1 No. 1 (2023): Spectrum of Engineering and Management Sciences

Section

Articles

License

Copyright (c) 2023 Spectrum of Engineering and Management Sciences

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

Stević, Željko, Bašić, A., Moslem, S., & Zhong, K. (2023). An Integrated ABC-FUCOM Model for Product Classification. Spectrum of Engineering and Management Sciences, 1(1), 83-91. https://doi.org/10.31181/sems1120239k

Most read articles by the same author(s)

<< < 1 2 3 > >>