Selection of RFID solution provider: A fuzzy multi-criteria decision model with Monte Carlo simulation

Purpose – The purpose of this paper is to provide a comprehensive framework to help managers of a business enterprise effectively evaluate candidate RFID solution providers and then select the most suitable one. Design/methodology/approach – The selection of an RFID solution provider is modeled as a new hybrid fuzzy multi-criteria decision making problem. The proposed decision model is based on integration of Monte Carlo simulation with fuzzy analytic hierarchy process (AHP) and fuzzy Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) methods. In addition, an illustrative case is used to exemplify the proposed approach. Findings – A quantitative methodology based on a structured framework, for the selection of the most appropriate RFID solution provider. Practical implications – This research study is a very useful source of information for managers of a business enterprise in making decisions about evaluation and selection of RFID solution providers or RFID system integrators. Originality/value – This study addresses the evaluation and selection of RFID solution providers for the managers of a business enterprise and proposes a new hybrid decision-making methodology for the problem.