Traditional Multi-Criteria Decision Making (MCDM) methods have now become outdated; therefore, most researchers are focusing on more robust hybrid MCDM models that combine two or more MCDM techniques to address decision-making problems. The authors attempted to create two novel hybrid MCDM systems in this paper by integrating Additive Ratio ASsessment (ARAS) with Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) and Complex PRoportional ASsessment (COPRAS). To demonstrate the ability and effectiveness of these two hybrid models i.e., TOPSIS-ARAS and COPRAS-ARAS were applied to solve a real-time robot selection problem with 12 alternative robots and five selection criteria, while evaluating the parametric importance using the CRiteria Importance Through Inter criteria Correlation (CRITIC) objective weighting estimation tool. The rankings of the robot alternatives gained from these two hybrid models were also compared to the obtained results from eight other solo MCDM tools. Although the rankings by the applied methods slightly differ from each other, the final outcomes from all of the adopted techniques are consistent enough to suggest that robot 12 is the best choice followed by robot 11, and robot 4 is the worst one among these 12 alternatives. Spearman Correlation Coefficient (SCC) also reveals that the proposed rankings derived from various methods have a strong ranking relationship with one another. Finally, sensitivity analysis was performed to investigate the effects of weight variation and to validate the robustness of the implemented MCDM approaches.

https://www.mdpi.com/2073-8994/13/8/1331/pdf

Analysis of a Robot Selection Problem Using Two Newly Developed Hybrid MCDM Models of TOPSIS-ARAS and COPRAS-ARAS

S. Saniuk, A. Saniuk, University of Zielona Góra, Poland R. Lenort, A. Samolejova, Faculty of Metallurgy and Materials Engineering, VŠB – Technical University of Ostrava, Czech Republic A significant problem of small and medium enterprises in the metallurgical sector is that submitted orders very often exceed the individual production capacity at the disposal of each company according to production capacity limitations (machinery, equipment and time availability), competencies, skills, etc. Therefore, the idea of the creation of virtual production networks (VPN) of small and medium enterprises within a metallurgical cluster appears to be particularly attractive. The development of such networks depends on design solutions and tools which help companies to quickly plan a VPN to jointly execute production orders. In the paper, the new method for formation and rapid planning of virtual production network within metallurgical clusters is proposed.

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Formation and planning of virtual production networks (VPN) in metallurgical clusters

Material handling equipment (MHE) selection is a rapidly increasing multi-criteria decision-making (MCDM) issue with a plethora of factors affecting the selection process. The proper selection of MHE is a crucial issue for industrial organization’s efficiency and productivity in the global market. The selection of the most suitable MHE for a specific engineering application is a costly as well as time-consuming process in which many candidate alternatives available on the market are considered as preliminary choices. Despite the facts that there are already a large number of mathematical methods available to evaluate, choose, and rate the alternatives for a given engineering application, this paper investigates the ability and applicability of two MCDM methods, namely, Additive Ratio ASsessment (ARAS) and COmplex PRoportional ASsessment (COPRAS). The present research article investigates three real-time MHE selection problems, i.e., conveyor selection, automated guided vehicles (AGV) selection, and selection of robots. All the three MCDM problems are evaluated and alternative rankings are proposed using these two methods, while the objective weighted system, entropy is used to assess the relative weights of the criteria. The current outcome rankings are also validated by using other six MCDM methods and comparing them to the findings of the previous researchers. Each example provides a listing of all the possible options from optimum to worst MHE that could potentially improve the previously proposed rankings and sensitivity analysis is computed to demonstrate that these two MCDM methods are robust enough and capable of being used effectively in solving MHE selection problems. Finally, conveyor 3, AGV 5, and ASEA-IRB 60/2 robot are found to be the best choice, while conveyor 1, AGV 3, and Unimation PUMA 500/600 robot are the worst alternative for the three MHE selection issues respectively.

Solving Material Handling Equipment Selection Problems in an Industry with the Help of Entropy Integrated COPRAS and ARAS MCDM techniques

Expansion of green bond markets as an appropriate way to lower environmental pollution is one of the most debatable issues among scholars. However, the expansion of this market is not a simple matter and depends on several factors. The main purpose of this study is to carry out a multi-dimensional analysis using the analytic hierarchy process (AHP) method to find and prioritize factors influencing the development of green bond markets. As a case, we do our analysis for Vietnam that, since the last years, has been trying to expand green bond market as an effective investment channel to finance low-carbon projects. The main findings revealed that legal infrastructure, official interest rate of green bonds, and economic stability are the most important factors directly affecting green bond market expansion. Therefore, economic and legal requirements should be addressed by policy makers. As major policy implications, we recommend an affordable price of green bonds and improvement of economic and financial stability to accelerate the development of green bond markets.

Factors Influencing the Green Bond Market Expansion: Evidence from a Multi-Dimensional Analysis

The operation of companies in the current environment, introducing the concept of Industry 4.0 and the establishment and expansion of inter-company networks, as well as open and knowledge-based systems in organizations, is a precondition for success in the efficient acquisition, processing, storage, and sharing of key information. The instruments created for this purpose came to the market gradually during the Third Industrial Revolution; however, with the outbreak of the Fourth Industrial Revolution, their development underwent a leap, whereas this stage is associated with the introduction and use of big data in human resources management. The aim of this paper is to analyze the current state of organizations operating with a focus on Slovakia, as well as the importance and knowledge value of the organizations, their way of internal sharing, and the level of knowledge database use for this purpose in the context of the region in which the organizations operate. On one hand, the results show a lack of businesses orientation with regard to this issue, especially in comparison with neighboring countries; however, on the other hand, they also show relatively significant progress in this area, which may increase competitiveness internationally in the near future.

Use of Digital Technologies for Intensifying Knowledge Sharing

The paper deals with handling equipment that can be used to transport/handle the final products in a selected industrial enterprise. The suitable handling equipment listed in the short-listwereselected by the authors of the paper based on the entry requirements and conditions of the enterprise and trends in material/final product handling towards increasing automation, enhancing productivity and maximizing safety. The Analytic Hierarchy Process method was used to support decision making on the appropriate handling equipment and specific calculations were carried out in the Expert Choice program. The Analytic Hierarchy Process as a tool of exact decision-making methods increases the objectivity of decision in general as well as the quality of suitable handling equipment selection in a particular industrial enterprise. One of the conditions of the enterprise for the equipment selection was the use of Intelligent/Smart solutions in the process of finished goods handling from the manufacturing area to warehouse.

AHP method application in selection of appropriate material handling equipment in selected industrial enterprise

An icreasing number of citizens living in cities and their demands for high quality of life and standard of living requires the implementation of smart solutions. Not only the world metropolis but also cities in the Slovak Republic implement the elements of the concept into their cities. Despite the efforts of local governments to improve residents’ lives through various projects oriented on smart elements, the issue of the lack of citizens’ awareness about the Smart City concept and the possibility of their engaging in building a better and smarter city remains. The mentioned issue also results from the survey conducted by the authors of the paper. The main aim of the paper is to analyze the awareness of regional cities’ citizens in the Slovak Republic about the Smart City concept and to propose the recommendations for improving the implementation of the Smart City elements into cities. The survey showed that almost 65 % of the respondents do not know what the term Smart City stands for. Based on the results, the authors recommend better enlightenment and publicity of the Smart City concept among citizens. Only informed and actively involved citizens can bring creative and innovative solutions that can make Smart City implementation more efficient or effective. A questionnaire was created to collect the necessary data. The questionnaire was distributed by the improbable quote selection of randomly addressed citizens in regional cities of the Slovak Republic. The collected data were evaluated by using the statistical program SPSS and MS Excel.

The Analysis of the Slovak Citizens’ Awareness about the Smart City Concept

Any activity of an industrial enterprise will have an impact on the economic, social and environmental sectors. At present, the main business goal is to generate and maximize profits. The 2030 Agenda for Sustainable Development put the focus on maximizing profit also how profit is generated and what impact have profit-generating activity on society and the environment. Every activity in an industrial enterprise is preceded by decision-making. The multi-criteria nature of decision-making in the context of sustainable development (and its economic, social and environmental criteria) is a prerequisite for the application of multi-criteria optimization methods. The basic precondition to apply exact methods in decision-making is the manager who has knowledge of the exact methods and interest in their application. Based on different theories and decision-making approaches that do not arise from an exact decision-making approach, the decision-makers are unable to make rational decisions. The results of several conducted surveys of managers' decision-making show that managers decide on complex issues based on subjective reasoning or intuition (Liebowitz, in: Forum: intuition-based decision-making: the other side of analytics. https://analytics-magazine.org/forum-intuition-based-decision-making-the-other-side-of-analytics, 2015). The authors of the article focused on the issue of decision-making in the selection of a production project based on the criteria of sustainable development. The aim of the paper is to present the application of exact method—Analytical Hierarchical Process in decision process on above mentioned issue.

Application of AHP method for project selection in the context of sustainable development

The purpose of the paper is to point out the importance of analysing data obtained from social media through the qualitative data analysis software. The main goal of conducted research was to evaluate the presentation and perception of selected automotive brands on Twitter and YouTube with the use of qualitative and quantitative analysis tools. The research objects were social networks Twitter and YouTube. As the subjects of the research were selected six brands of the automotive industry. Findings revealed generally positive consumer opinions, attitudes towards all the tracked brands, given the total score of the words contained in the hashtag tweets with the name of the brand (with more words of positive polarity as those with negative polarity). The best position was achieved by the Toyota brand, which was selected as a benchmark for the tracked car brands, followed by the VW, KIA, Skoda, Citroen and Peugeot. This research shows an approach to brand-related Twitter sentiment analysis that deals with the expressed emotions about a brand through tweet texts.

Qualitative and quantitative analysis of social network data intended for brand management

Augustín Stareček Institute of Industrial Engineering and Management, Faculty of Materials Science and Technology in Trn ava, Slovak University of Technology in Bratislava, Jána Bottu 25, 917 24 Trnava, Slovak republic, augustin.starec ek@stuba.sk Milan Bachár Institute of Industrial Engineering and Management, Faculty of Materials Science and Technology in Trn ava, Slovak University of Technology in Bratislava, Jána Bottu 25, 917 24 Trnava, Slovak republic, milan.bachar@st uba.sk Natália Horňáková Institute of Industrial Engineering and Management, Faculty of Materials Science and Technology in Trn ava, Slovak University of Technology in Bratislava, Jána Bottu 25, 917 24 Trnava, Slovak republic, natalia.hornako v @stuba.sk (corresponding author) Dagmar Cagáňová Institute of Industrial Engineering and Management, Faculty of Materials Science and Technology in Trn ava, Slovak University of Technology in Bratislava, Jána Bottu 25, 917 24 Trnava, Slovak republic, dagmar.caganova @stuba.sk Helena Makyšová Institute of Industrial Engineering and Management, Faculty of Materials Science and Technology in Trn ava, Slovak University of Technology in Bratislava, Jána Bottu 25, 917 24 Trnava, Slovak republic, helena.makysova @stuba.sk

http://actalogistica.eu/issues/2018/I_2018_02_Starecek_Bachar_Hornakova_Caganova_Makysova.pdf

Natália Horňáková

Papers

AHP method application in selection of appropriate material handling equipment in selected industrial enterprise

The Analysis of the Slovak Citizens’ Awareness about the Smart City Concept

Application of AHP method for project selection in the context of sustainable development

Qualitative and quantitative analysis of social network data intended for brand management

Trends in automatic logistic systems and logistic market in slovakia