A state-of the-art survey of TOPSIS applications

Multi-Criteria Decision Aid (MCDA) or Multi-Criteria Decision Making (MCDM) methods have received much attention from researchers and practitioners in evaluating, assessing and ranking alternatives across diverse industries. Among numerous MCDA/MCDM methods developed to solve real-world decision problems, the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) continues to work satisfactorily across different application areas. In this paper, we conduct a state-of-the-art literature survey to taxonomize the research on TOPSIS applications and methodologies. The classification scheme for this review contains 266 scholarly papers from 103 journals since the year 2000, separated into nine application areas: (1) Supply Chain Management and Logistics, (2) Design, Engineering and Manufacturing Systems, (3) Business and Marketing Management, (4) Health, Safety and Environment Management, (5) Human Resources Management. (6) Energy Management, (7) Chemical Engineering, (8) Water Resources Management and (9) Other topics. Scholarly papers in the TOPSIS discipline are further interpreted based on (1) publication year, (2) publication journal, (3) authors' nationality and (4) other methods combined or compared with TOPSIS. We end our review paper with recommendations for future research in TOPSIS decision-making that is both forward-looking and practically oriented. This paper provides useful insights into the TOPSIS method and suggests a framework for future attempts in this area for academic researchers and practitioners. (c) 2012 Elsevier Ltd. All rights reserved.