Analytical modelling of shipping business processes based on MCDM methods

The need for analytical solutions towards various managerial processes in shipping business has been clearly seen in maritime society. To remedy this gap, the execution of relevant processes can be supported via multiple criteria decision-making (MCDM) techniques. This article applied an Integrated Decision Aid (IDEA) to overcome the model selection dilemma for process improvement in shipping business. The illustrative application of the IDEA makes invaluable contributions for the ongoing efforts of relevant executives on adopting modern management style in shipping business. Furthermore, the outcomes of this study encourage the maritime practitioners towards analytical modelling of managerial processes in shipping business cycle.

[1]  S. Kafandaris.  Decision Sciences: An Integrative Perspective , 1993 .

[2]  Jean Pierre Brans,et al.  A PREFERENCE RANKING ORGANIZATION METHOD , 1985 .

[3]  Mark Elliot Gershon,et al.  MODEL CHOICE IN MULTIOBJECTIVE DECISION-MAKING IN NATURAL RESOURCE SYSTEMS , 1981 .

[4]  C. Hwang.  Multiple Objective Decision Making - Methods and Applications: A State-of-the-Art Survey , 1979 .

[5]  Jean Pierre Brans,et al.  HOW TO SELECT AND HOW TO RANK PROJECTS: THE PROMETHEE METHOD , 1986 .

[6]  T. Saaty,et al.  The Analytic Hierarchy Process , 1985 .

[7]  Trond Randøy,et al.  The performance effect of innovation in shipping companies , 2006 .

[8]  Jan Horck,et al.  An analysis of decision-making processes in multicultural maritime scenarios , 2004 .

[9]  Markus Voelter,et al.  State of the Art , 1997, Pediatric Research.

[10]  Kyriaki Mitroussi,et al.  The ship owners’ stance on third party ship management: an empirical study , 2004 .

[11]  Ching-Lai Hwang,et al.  Multiple attribute decision making : an introduction , 1995 .

[12]  Ching-Lai Hwang,et al.  Multiple Attribute Decision Making: Methods and Applications - A State-of-the-Art Survey , 1981, Lecture Notes in Economics and Mathematical Systems.

[13]  Harilaos N. Psaraftis,et al.  Optimizing shipping company operations using business process modelling , 2005 .

[14]  Safaai Deris,et al.  Ship maintenance scheduling by genetic algorithm and constraint-based reasoning , 1999, Eur. J. Oper. Res..

[15]  Stefanos Gritzalis,et al.  Information technology network security risk assessment and management framework for shipping companies , 2005 .

[16]  Lucien Duckstein,et al.  A Procedure for Selecting MCDM Techniques for Forest Resources Management , 1992 .

[17]  Photis M. Panayides,et al.  Competitive strategies and organizational performance in ship management , 2003 .

[18]  Alan Pearman,et al.  Model choice in multicriteria decision aid , 1997 .

[19]  Metin Celik,et al.  Computer-based systematic execution model on human resources management in maritime transportation industry: The case of master selection for embarking on board merchant ships , 2009, Expert Syst. Appl..

[20]  Camille Salinesi,et al.  MCDM Techniques Selection Approaches: State of the Art , 2007, 2007 IEEE Symposium on Computational Intelligence in Multi-Criteria Decision-Making.

[21]  J. Wanga,et al.  A study of reliability-centred maintenance in maritime operations , 2002 .

[22]  Cengiz Kahraman,et al.  Fuzzy axiomatic design-based performance evaluation model for docking facilities in shipbuilding industry: The case of Turkish shipyards , 2009, Expert Syst. Appl..

[23]  Alexandros M. Goulielmos,et al.  Management information system for the promotion of safety in shipping , 1997 .

[24]  Craig W. Kirkwood,et al.  Strategic decision making : multiobjective decision analysis with spreadsheets : instructor's manual , 1996 .

[25]  Vladimir M. Ozernoy.  Developing an Expert System Prototype for Intelligent Decision Support , 1992 .

[26]  Vahid Lotfi,et al.  A Comparison of Aspiration Level Interactive Method (AIM) and Conjoint Analysis in Multiple Criteria Decision Making , 1997 .

[27]  Peter Lorange.  Strategic re-thinking in shipping companies , 2001 .

[28]  Mark Gershon,et al.  Techniques for multiobjective decision making in systems management , 1986 .

[29]  Helen B. Bendall,et al.  Ship Investment under Uncertainty: Valuing a Real Option on the Maximum of Several Strategies , 2005 .

[30]  Amir H. Alizadeh,et al.  Investment Timing and Trading Strategies in the Sale and Purchase Market for Ships , 2007 .

[31]  Jacques Teghem,et al.  An interactive decision support system (IDSS) for multicriteria decision aid , 1989 .

[32]  J.-Ch. Pomerol,et al.  Priam, an interactive program for chosing among multiple attribute alternatives , 1986 .

[33]  Metin Celik,et al.  Application of fuzzy extended AHP methodology on shipping registry selection: The case of Turkish maritime industry , 2009, Expert Syst. Appl..

[34]  Çagdas Hakan Aladag,et al.  A new model selection strategy in artificial neural networks , 2008, Appl. Math. Comput..

[35]  Photis M. Panayides.  Maritime policy, management and research: role and potential , 2006 .

[36]  Pekka Korhonen,et al.  Behavioral Issues in MCDM: Neglected Research Questions , 1996 .

[37]  Füsun Ülengin,et al.  Energy for the future: An integrated decision aid for the case of Turkey , 2004 .

[38]  Peter Bogetoft,et al.  Choosing Between Models of Choice: On the Selection of MCDM Planning Modes , 1999 .

[39]  Simon French,et al.  Modern Decision Making: A Guide to Modelling with Decision Support Systems , 1984 .

[40]  Ching-Lai Hwang,et al.  Group decision making under multiple criteria , 1987 .

[41]  Stanley Zionts,et al.  An improved method for solving multiple criteria problems involving discrete alternatives , 1984, IEEE Transactions on Systems, Man, and Cybernetics.

[42]  Adel Guitouni,et al.  Tentative guidelines to help choosing an appropriate MCDA method , 1998, Eur. J. Oper. Res..