Grey theory, VIKOR and TOPSIS Approaches

This author introduces the concept of Stepwise Strategy Approach (SSA) for dealing with a number of problems arises in the current age of technology. This new idea is combined with the knowledge of Grey Theory for adding flexibility to decision making process. Grey theory is useful for grasping the ambiguity exists in the utilized information and the fuzziness appears in the human judgments and preferences. This article is a very useful source of information for Fuzzy Grey and decision making using more than one decision makers in fuzzy environment. A case study on system selection comprised of 12 attributes and 4 alternatives is constructed and solved by the proposed method and the results are analyzed. For the validation of the results obtained by the Grey theory, the fuzzy VIKOR and Fuzzy TOPSIS were employed for computational purposes. The results of these three approaches on the proposed case study are closely related. Due to the fact that this author proposes the “Stepwise Strategy” approach for implementing a new technology in industries, where already the management of an older compatible type of technology is in existence, along with the grey theory concept and data whitenization approach, its contribution to the literature of operations research is highly recognizable.