Supplier evaluation with fuzzy similarity based fuzzy TOPSIS with new fuzzy similarity measure

In this paper we present how a recently published new fuzzy similarity measure can be used within a fuzzy TOPSIS method and applied to a supplier evaluation problem. With this new similarity measure we are able to consider the area of the fuzzy numbers under comparison. This allows us to include more relevant information in the ranking of suppliers and in this way improve the quality of the ranking result reached with similarity measure based fuzzy TOPSIS. We compare the new fuzzy similarity measure with the previously used similarity measures and apply it to two different supplier evaluation problems. We show that by including more relevant information in the ranking can result in a new ranking, this is not insignificant from the decision-making point-of-view.