The Comparative Analysis Of Multi-Criteria Decision-Making Methods (MCDM) In Priorities Of Industrial Location Development

Abstract

The process of prioritizing the development of an industrial area's site is a matter that necessitates a mature approach. The establishment of an industrial region has significant social implications for the surrounding locality. However, it is also necessary to take into account the availability of variables that facilitate the functioning of such an industrial zone. The goal of the study "A Comparative Analysis of Multi-Criteria Decision Making Methods (MCDM) for Determining the Priority of Industrial Area Location Development" is to compare and contrast different MCDM methods in the context of deciding which industrial area locations should be developed first. A case study was undertaken, examining various possible industrial sites for future development. Multiple approaches, namely MOORA, WASPAS, ARAS, COPRAS, and AHP, are employed to ascertain the prioritization of industrial area development locations. This study presents a comparative analysis of each approach by using the Spearman Rank correlation and utilizing the factual data obtained from the Department of Capital Plantation and Integrated One Door Services (DPMPTSP). The external research is anticipated to involve a comprehensive review of the literature on the efficacy of Multiple Criteria Decision Making (MCDM) methods. This research has the potential to assist both governmental bodies and private entities in establishing priorities for the development of industrial areas, taking into account prevailing circumstances and conditions while also considering various significant factors and criteria.