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Title: Partial average cross‐weight evaluation for ABC inventory classification
Authors: Karagiannis, Giannis
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business
FRASCATI::Social sciences::Economics and Business
Keywords: composite indicators
descending ordering schemes
overall measure
ABC inventory classification
Issue Date: 2021
Source: International Transactions in Operational Research
Volume: 28
Issue: 3
First Page: 1526
Last Page: 1549
Abstract: In this paper, we propose an alternative overall measure, inspired by the notion of average cross-efficiency, which summarizes achievements across different descending ordering schemes regarding the relative importance of the considered indicators in the Ng model. The proposed overall measure is equal to the arithmetic average of the maximum partial averages across all possible descending ordering schemes. It can also be obtained using the average (across ordering schemes) of the estimated multipliers. We apply the proposed measure to the ABC inventory classification problem, and we compare our results with those by four information theory based methods that may be used for the same purpose, namely the Shannon entropy, distance-based, weighted least-square dissimilarity, and maximizing deviation methods.
ISSN: 0969-6016
Other Identifiers: 10.1111/itor.12594
Appears in Collections:Department of Economics

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