A novel hesitant-fuzzy-based group decision approach for outsourcing risk

Outsourcing is recognized as a strategic instrument for companies to move towards diversified operation advantages and efficient global market. However, outsourcing agreements may fail due insufficient risk consideration evaluation. This requires an effective evaluation approach that necessitates entire comprehension of the system, its requirements dimensions. paper proposes novel fuzzy group multiple-criteria decision-making through integrating triangular hesitant sets (TFHS), Failure Mode Effect Analysis (FMEA) combined compromise solution (CoCoSo) algorithm. (F-FMEA-CoCoSo, henceforth) analyzes evaluates possible risks level alternative providers. It hereby provides measurable information managers according linguistic opinions industrial experts. Utilization variables allows decision making participants state their opinion more precisely. A case study Iranian chemical company used exemplify applicability suitability proposed F-FMEA-CoCoSo approach. The model reflects analytical while experts are experiencing considerable uncertainty in risky conditions operations. CoCoSo contains integrated solutions utilization enables investigators assure results reliability which proven via sensitivity analysis. Through this study, we found providers must consider four key-factors: multi-experts, multi-criteria, multi-uncertainties measurability.