Application of MCDM in a small Serbian printing company

Abstract

This paper presents the application of multi-criteria decision-making (MCDM) methods to support the selection of a printing machine in a small Serbian printing company. The study aims to select the most suitable machine among thethree alternatives preselected by the company owner. In the decision-making process, seven limiting factors, i.e., criteria, were taken into consideration. The selected criteria were ranked using the AHP method, while the alternatives were evaluated and ranked using the VIKOR method. The theoretical foundations of the chosen methods are described in detail. To evaluate the most favorable alternative considering the selected criteria, the relative importance of each criterion was first determined using the mathematical formulas of the AHP method. Subsequently, taking into account the criteria weights, the requirements of each criterion, and the corresponding mathematical formulas of the VIKOR method, the alternatives were ranked and an assessment of the most favorable machine was provided.