An Essay on Simulation and Multi Criteria Decision Making Methods in Production Enterprise

Assist. Prof. Mehmet Nuri ?nel

Abstract


Its hard to make a decision about investment for enterprises because of there are too many criteria that need evaluation. The aim of this study is to apply simulation method to evaluate risk that is between investment alternatives and to apply VIKOR, is one of multi criteria decision making methods, to make the most efficient decision by using simulation results. The study was applied for a production enterprise in textile industry. It was used Monte Carlo simulation as simulation method, Analytic Hierarchy Process to determine criteria weights, VIKOR to make a decision.


Keywords


Vikor; Assessment of investment projects; Simulation.

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References


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