PCA-DEA Model for Efficiency Assessment of Transportation Company
Journal Title: Journal of Intelligent Management Decision - Year 2023, Vol 2, Issue 1
Abstract
The road mode of transportation holds a leading position in the world and its upward trend is still noticeable. The aim of this research is to determine the efficiency of the observed transportation company, i.e. efficiency of its business throughout the analyzed period of years, which in this case is from 2018 to 2022. Specifically, in this paper, it has been observed a transportation company located in Bosnia and Herzegovina, which is engaged in road internal and international transportation. An integrated PCA-DEA model was used for efficiency analysis. Six input and four output parameters were defined. Due to the small number of decision-making units, PCA (Principal component analysis) based on 70% of the information of all data collected was first applied, and the number of input-output parameters was reduced to 2 to 1. After that, DEA (Data Envelopment Analysis) was applied to obtain final efficiency values. The results show that the previous year (2022) is the most efficient under the considered conditions and circumstances, and that the company is on the right track, as it increases its efficiency.
Authors and Affiliations
Medina Taletović, Siniša Sremac
Keywords
Related Articles
- EP ID EP752348
- DOI https://doi.org/10.56578/jimd020102
- Views 33
- Downloads 0
Fuzzy Multi-Criteria Analyses on Green Supplier Selection in an Agri-Food Company
The way agri-food companies conduct business has changed as a result of changes in the market. These companies must start working in a more environmentally friendly manner. This study aims to examine, assess, and compare...
Hotel Performance in the Digital Era: Roles of Digital Marketing, Perceived Quality and Trust
Over the past 15 years, online travel agencies (OTAs), such as Booking.com and Expedia.com, have grown significantly. This growth is correlated with their spending on R&D and marketing initiatives. Digital marketing prom...
Evaluating the Logistics Performance of G8 Nations Using Multi-Criteria Decision-Making Models
Logistics performance plays a pivotal role in fostering economic growth and enhancing global competitiveness. This study aims to evaluate the logistics performance of G8 nations through multi-criteria decision-making (MC...
Strategic Framework for Leveraging Artificial Intelligence in Future Marketing Decision-Making
Disruptive technologies such as the big data analytics, blockchain, Internet of Things, and artificial intelligence have each impacted how businesses operate. The most recent example of disruptive technology is artificia...
Decision Support System for Mobile Phone Selection Utilizing Fuzzy Hypersoft Sets and Machine Learning
In the dynamic landscape of mobile technology, where a myriad of options burgeons, compounded by fluctuating features, diverse price points, and a plethora of specifications, the task of selecting the optimum mobile phon...