Design a Hybrid Model of Multi-Criteria Decision-Making Techniques for Ranking the Bank Branches

Document Type : Original Article

Authors

1 MSc. in Industrial Engineering, Department of Industrial Engineering, Islamic Azad University, Masjed Soleyman Branch, Masjed Soleyman, Iran

2 Assistant Professor at Industrial Engineering Department of Khaje Nasir Toosi University of Technology, Khaje Nasir Toosi University of Technology University, Tehran, Iran.

Abstract

Due to the importance of ranking bank branches and the lack of a comprehensive ranking model, which can lead to improved performance of the bank and the country economic growth, offering a hybrid multiple criteria decision-making (MCDM) model for ranking among bank branches is necessary. However, with the passing of time, MCDM methods have helped a lot in the rankings. But the choice of which methods is accepted as the best solution is always an ambiguity. Since the comprehensive hybrid algorithm that can identify the top branches not provided, yet. This research is trying to achieve the final ranking of the branches. Thus the optimal solution is to introduce a hybrid algorithm that determines the optimal weights of the MADM methods by a linear model. This approach is especially applicable when we cannot prefer any ranking method to others. Thus, in this paper, the criteria weights are obtained using DEMATEL and ANP methods. Afterward, the bank branches are ranked using TOPSIS, VIKOR, PROMETHEE II, SAW, WPM and DEA methods, each of which is important and significant. Finally, using proposed hybrid algorithm the optimal weights of different methods and the ranks are calculated.

Keywords


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