MCDM Techniques in Manufacturing Environment

Abstract

Manufacturing industries are facing stiff market competition, work pressure and a very competitive environment. This has forced them to be alert and take the desired decisions in order to achieve their goals. In this paper, a review study has been made on MCDM techniques in manufacturing industries. We found that the managers and engineers of the industries face a number of problems and situations in which decision making is very difficult and the margin of safety is very less. Any wrong decision would lead to losses. These situations are mainly of multiple criteria decision making, in which decision has to be taken by analyzing various criterias and them select the best alternatives among various alternatives present to him. Due to a highly competitive market, industries are now forced to focus more on increasing productivity while decreasing cost by right selection of machine tools. Proper selection of machine tool justifies labour saving, improved product quality and increase production rate with enhanced overall productivity.