The purpose of paper is to develop a performance evaluation framework for manufacturing industry to evaluate overall manufacturing performance.
The best-worst method (BWM) is used to aid in developing a performance evaluation framework for manufacturing industry to evaluate their overall performance.
The proposed BWM-based manufacturing performance evaluation framework is implemented in an Indian steel manufacturing company to evaluate their overall manufacturing performance. Operational performance of the organization is very consistent and range between 60% and 70% throughout the year. Management performance can be seen high in the 1st and 2nd quarter of the financial year ranging from 70% to 80%, whereas a slight decrease in the management performance is observed in the 3rd and 4th quarter ranging from 60% to 70%. The social stakeholder performance has a peak in first quarter ranging from 80% to 100% as at start of financial year.
This paper utilized BWM, a MCDM method in developing a performance evaluation index that integrates several categories of manufacturing and evaluates overall manufacturing performance. This is a novel contribution to BWM decision-making application.
