Evaluating the Logistics Performance Index of European Union Countries: An Integrated Multi-Criteria Decision-Making Approach Utilizing the Bonferroni Operator
Journal Title: International Journal of Knowledge and Innovation Studies - Year 2023, Vol 1, Issue 1
Abstract
The evaluation of the Logistics Performance Index (LPI), as computed by the World Bank, incorporates six equally weighted criteria to ascertain the overall performance scores of countries globally. This study aims to scrutinize the impact of the weighting coefficients of criteria on the computation of the total LPI scores, employing a selection of Multi-Criteria Decision Making (MCDM) methods. The Criteria Importance Through Intercriteria Correlation (CRITIC) and Full Consistency Method (FUCOM) methods were utilized to determine the weighting coefficients, while the Measurement of Alternatives and Ranking according to Compromise Solution (MARCOS) method was employed for ranking the European Union member states. The findings reveal that Finland emerges as the top-ranked nation upon application of the integrated MCDM model. A comparative analysis was conducted, incorporating three additional MCDM methods to assess the robustness of the ranking. Furthermore, a sensitivity analysis was performed, generating sixty novel scenarios to examine the effects of variations in the criteria weighting coefficients. This analysis confirmed the influence of these coefficients on the ultimate ranking of the nations. The research underscores the significance of criteria weightings in the evaluation of the LPI and provides insights into the stability of the rankings under different weighting scenarios.
Authors and Affiliations
Almedina Hadžikadunić, Željko Stević, Ibrahim Badi, Violeta Roso
Keywords
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- EP ID EP732602
- DOI https://doi.org/10.56578/ijkis010104
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