Event Date : 29-08-2024
Time : 3:30pm- 4:30pm
Venue : 301, SICSR
Event Co-coordinator(s) : Ms. Priya Ambede
Speaker: Dr. Parag R. Kaveri, Deputy Director, SICSR, Pune
Event details:MCDM, an acronym for Multi-criteria decision-making method is a decision-making method which aims to select the most appropriate alternative out of multiple criteria identified. The technique can be applied in various sectors, including management, engineering, finance and design to name a few. A popularly used MCDM technique that aids in decision-making is the Analytic Hierarchy Process (AHP), which allows decision-makers to rank options by using pairwise comparison amongst multiple criteria. The AHP framework can be well utilized by professionals in different functions to support business objectives and help in effective decision-making.Using the AHP framework offers several benefits, including its credibility in the management field, adaptability to various industries, ease of use, and ability to analyze multiple factors to arrive at the best decision. By integrating Fuzzy logic, fuzzy AHP (FAHP) becomes better equipped to tackle the inherent ambiguities and uncertainties in human judgement.
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CAPTION- Discussion on MCDM technique - AHP and Fuzzy AHP
