Affiliations: [a] Department of Management Studies, National Institute of Technology, Durgapur, West Bengal, India | [b] Decision Sciences and Operations Management Area, Calcutta Business School, South 24 Parganas, West Bengal, India | [c] Faculty of Organizational Sciences, Department of Operations Research and Statistics, University of Belgrade, Belgrade, Serbia | [d] Marketing Area, Calcutta Business School, Bishnupur, South 24 Parganas, West Bengal, India
Correspondence:
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Corresponding author: Dragan Pamucar, Faculty of Organizational Sciences, Department of Operations Research and Statistics, University of Belgrade, Belgrade, Serbia. E-mail: dpamucar@gmail.com.
Abstract: Sales and operations planning translates the requirements of the customers at the market place (related to new and/or existing products and services) into actionable tactical plans to drive the activities of the value chain of the organization. The present work aims to provide a multi-period and multi-perspective evaluation framework to compare the sales and operational performance (SOP) of firms in an emerging market. SOP is one of the frontline KPIs that describes the efficiency and effectiveness of the sales and operations planning. There is a scantiness in the extant literature about well-defined indicators to measure SOP. The current work fills the gap in the literature by developing a hybrid multi-criteria decision making (MCDM) framework utilizing the Logarithmic Percentage Change-driven Objective Weighting (LOPCOW) and Evaluation based on Distance from Average Solution (EDAS) models for a novel application in assessing SOP. From the data analysis, it is also evident that there is a variations in the year wise ranking of the companies. However, all individual year wise rankings maintain statistically significant correlations with the aggregated ranking. For aggregation purpose, Borda Count Method is used. The companies like ITC Limited, Hindustan Unilever Ltd., Avanti Feeds Ltd., Britannia Industries Ltd., and Symphony Ltd. hold the top five positions on aggregate. The comparison with other MCDM models is made and sensitivity analysis is carried out. The present work is a first of its kind that would encourage the analysts and the policy makers to evaluate the sales and operational performance using a scientific way.
Keywords: Sales and operational performance, multi-criteria decision making, logarithmic percentage change-driven objective weighting, evaluation based on distance from average solution, borda count
