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Mathematics
Volume 10
Issue 18
10.3390/math10183230
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Article

An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods

by
Amir Karbassi Yazdi
1,
Yong Tan
2,
Cristi Spulbar
3,
Ramona Birau
4,* and
Jorge Alfaro
1
1
School of Engineering, Universidad Católica del Norte, Larrondo 1281, Coquimbo 1781421, Chile
2
School of Management, University of Bradford, Bradford BD7 1DP, UK
3
Faculty of Economics and Business Administration, University of Craiova, 200585 Craiova, Romania
4
Doctoral School of Economic Sciences, University of Craiova, 200585 Craiova, Romania
*
Author to whom correspondence should be addressed.
Mathematics 2022, 10(18), 3230; https://doi.org/10.3390/math10183230
Submission received: 8 August 2022 / Revised: 22 August 2022 / Accepted: 29 August 2022 / Published: 6 September 2022
(This article belongs to the Special Issue Recent Advances in Multiple Criteria Decision Making Approaches)
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Abstract

The oil and gas industry plays a significant role in the economies of many countries today. Due to various factors, including oil price fluctuations, wars, sanctions, and many other instances, selling and supplying these products at low prices is necessary. As a result, the global economy may suffer as well. Supply chain management is one way to reduce the prices of these products. This study was conducted to identify supply chain management contracts in the oil and gas industry. The paper presents an application of multi-criteria decision-making (MCDM) for coping with uncertainty. We contribute to the literature by proposing a new hybrid MCDM method with gray numbers for ranking supply chain management contracts in the oil and gas industry. The results show that the factors for evaluating supply chain management contracts must be selected, and then according to these factors, the supply chain management contracts must be chosen. As a result, we provide our customers with the best deals and help oil and gas companies minimize their costs.
Keywords: contract selection; supply chain management (SCM); best–worst method (BWM); measurement of choices and their ranking as a compromise solution (MARCOS) method; gray number contract selection; supply chain management (SCM); best–worst method (BWM); measurement of choices and their ranking as a compromise solution (MARCOS) method; gray number

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MDPI and ACS Style

Karbassi Yazdi, A.; Tan, Y.; Spulbar, C.; Birau, R.; Alfaro, J. An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods. Mathematics 2022, 10, 3230. https://doi.org/10.3390/math10183230

AMA Style

Karbassi Yazdi A, Tan Y, Spulbar C, Birau R, Alfaro J. An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods. Mathematics. 2022; 10(18):3230. https://doi.org/10.3390/math10183230

Chicago/Turabian Style

Karbassi Yazdi, Amir, Yong Tan, Cristi Spulbar, Ramona Birau, and Jorge Alfaro. 2022. "An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods" Mathematics 10, no. 18: 3230. https://doi.org/10.3390/math10183230

APA Style

Karbassi Yazdi, A., Tan, Y., Spulbar, C., Birau, R., & Alfaro, J. (2022). An Approach for Supply Chain Management Contract Selection in the Oil and Gas Industry: Combination of Uncertainty and Multi-Criteria Decision-Making Methods. Mathematics, 10(18), 3230. https://doi.org/10.3390/math10183230

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