Прегледај по Аутор "Starčević, Vitomir"

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    A New Model for Stock Management in Order to Rationalize Costs: ABC-FUCOM-Interval Rough CoCoSo Model
    (MDPI, 2019) Erceg, Živko; Starčević, Vitomir; Pamučar, Dragan; Mitrović, Goran; Stević, Željko; Žikić. Srđan
    Cost rationalization has become imperative in every economic system in order to create adequate foundations for its efficient and sustainable management. Competitiveness in the global market is extremely high and it is challenging to manage business and logistics systems, especially with regards to financial parameters. It is necessary to rationalize costs in all activities and processes. The presence of inventories is inevitability in every logistics system, and it tends to create adequate and symmetrical policies for their efficient and sustainable management. In order to be able to do this, it is necessary to determine which products represent the largest percentage share in the value of procurement, and which are the most represented quantitatively. For this purpose, ABC analysis, which classifies products into three categories, is applied taking into account different constraints. The aim of this paper is to form a new model that involves the integration of ABC analysis, the Full Consistency Method (FUCOM), and a novel Interval Rough Combined Compromise Solution (CoCoSo) for stock management in the storage system. A new IRN Dombi weighted geometric averaging (IRNDWGA) operator is developed to aggregate the initial decision matrix. After grouping the products into three categories A, B and C, it is necessary to identify appropriate suppliers for each category in order to rationalize procurement costs. Financial, logistical, and quality parameters are taken into account. The FUCOM method has been used to determine the significance of these parameters. A new Interval CoCoSo approach is developed to determine the optimal suppliers for each product group. The results obtained have been modeled throughout a multi-phase sensitivity analysis
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    A Novel Integrated PCA-DEA-IMF SWARA-CRADIS Model for Evaluating the Impact of FDI on the Sustainability of the Economic System
    (MDPI, 2022) Starčević, Vitomir; Petrović, Vesna; Mirović, Ivan; Tanasić, Ljiljana Ž.; Stević, Željko; Đurović Todorović, Jadranka
    Today’s economic systems are, on the one hand, exposed to various risks and uncertainties with their trends changing almost daily, while on the other hand, they represent an extremely complex system with a large number of sustainable influential parameters. The challenge is to model macroeconomic parameters and achieve sustainability, yet also satisfy conflict situations with an increased level of uncertainty. The aim of this paper is to create an appropriate functional model by examining the mutual influence of various macroeconomic factors. It assesses a total of four scenarios considering mutual influences of: FDI (foreign direct investments), GDP (gross domestic product), imports, exports, inflation rate, RER (real exchange rate) and employment rate as defined parameters. First, the DEA (Data envelopment analysis) model was applied to determine the initial efficiency of two countries, Bosnia and Herzegovina (BIH) and Serbia, for the period 2005–2020. Then, PCA (Principal Component Analysis) was applied in combination with DEA to obtain more precise values. In addition, IMF SWARA (Improved Fuzzy StepwiseWeight Assessment Ratio Analysis) was applied to define weight coefficients of macro-economic parameters. Finally, the CRADIS (compromise ranking of alternatives from distance to ideal solution) model was applied for the final ranking of part of decision-making units. This developed, integrated model can be classified as a mathematical method for economic analysis and gives extended opportunities for solving different problems. The results show that 2009, 2013 and 2016 were the most favorable years in terms of the conditions set when it comes to Bosnia and Herzegovina, and 2012, 2014 and 2016 when it comes to Serbia. These years have been singled out and can be a benchmark for further handling and modeling of macroeconomic elements. In addition, correlation was tested using statistical coefficients.
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    Proposal for an objective binary benchmarking framework that validates each other for comparing MCDM methods through data analytics
    (PeerJ Inc., 2023) Baydaş, Mahmut; Eren, Tevfik; Stević, Željko; Starčević, Vitomir; Parlakkaya, Raif
    When it comes to choosing the best option among multiple alternatives with criteria of different importance, it makes sense to use multi criteria decision making (MCDM) methods with more than 200 variations. However, because the algorithms of MCDM methods are different, they do not always produce the same best option or the same hierarchical ranking. At this point, it is important how and according to which MCDM methods will be compared, and the lack of an objective evaluation framework still continues. The mathematical robustness of the computational procedures, which are the inputs of MCDM methods, is of course important. But their output dimensions, such as their capacity to generate well-established real-life relationships and rank reversal (RR) performance, must also be taken into account. In this study, we propose for the first time two criteria that confirm each other. For this purpose, the financial performance (FP) of 140 listed manufacturing companies was calculated using nine different MCDM methods integrated with step-wise weight assessment ratio analysis (SWARA). İn the next stage, the statistical relationship between the MCDM-based FP final results and the simultaneous stock returns of the same companies in the stock market was compared. Finally, for the first time, the RR performance of MCDM methods was revealed with a statistical procedure proposed in this study. According to the findings obtained entirely through data analytics, Faire Un Choix Adéquat (FUCA) and (which is a fairly new method) the compromise ranking of alternatives from distance to ideal solution (CRADIS) were determined as the most appropriate methods by the joint agreement of both criteria.