A reference framework for the application of MADM fuzzy techniques to selecting AMTS

In the last decade, there has been growing interest in the assessment and selection of investments in advanced manufacturing technologies (AMTs). Several authors have pointed out the shortcomings of traditional financial techniques, proposing alternative approaches usually referred to as 'non-conventional' approaches. Among them, some authors have recently proposed fuzzy multi-attribute decision making (MADM) techniques, which seem to be particularly suitable for dealing with the intangible effects of AMTs. However, no attempt has so far been made to analyse and compare the various MADM techniques included in the fuzzy theory with respect to their applicability to the assessment and selection of AMTs. The objective of this article is to give a reference framework for the application of a MADM fuzzy approach to AMT selection. In particular, the paper describes three major categories of fuzzy MADM approach and compares their results using a case study.