Hierarchical Model in Decision-Making.- Multi-criteria Decision-Making for Risk Assessment.- Fuzzy Hierarchical Model for Risk Assessment.- Mathematical Formulation.- Application in Product Design.- Application in Fashion Supply Chain.- Application in Food Supply Chain.- Extension of the Hierarchical Model.
Risk management is often complicated by situational uncertainties and the subjective preferences of decision makers. Fuzzy Hierarchical Model for Risk Assessment introduces a fuzzy-based hierarchical approach to solve risk management problems considering both qualitative and quantitative criteria to tackle imprecise information.
This approach is illustrated through number of case studies using examples from the food, fashion and electronics sectors to cover a range of applications including supply chain management, green product design and green initiatives. These practical examples explore how this method can be adapted and fine tuned to fit other industries as well.
Supported by an extensive literature review, Fuzzy Hierarchical Model for Risk Assessment comprehensively introduces a new method for project managers across all industries as well as researchers in risk management.this area.
Proposes a hierarchical approach to multi-criteria risk assessment incorporating fuzzy logic to balance qualitative and quantitative elements so that a final risk index can be calculated
Applies methods to a variety of cases, namely, green initiatives in the fashion industry, eco-design of electrical products, and food supply chains to illustrate how the proposed model can be employed in real-life applications
Includes an extensive literature review on the topic