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An improvement to multiple criteria ABC inventory classification using Shannon entropy

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Abstract

This paper extends the Ng-model [Ng, 2007] for multiple criteria ABC inventory classification based upon Shannon entropy. The proposed approach determines the common weights associated with all criteria importance rankings, and provides a comprehensive scoring scheme by aggregating all rankings of the criteria importance. A numerical illustration is presented to compare the model with previous studies.

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Author information

Authors and Affiliations

  1. School of Public Affairs, University of Science and Technology of China, Hefei, 230026, China

    Shanshan Zheng

  2. Department of Industrial and Manufacturing Systems Engineering, University of Hong Kong, Hong Kong, China

    Yelin Fu

  3. School of Finance, Jiangxi University of Finance and Economics, Nanchang, 330013, China

    Kin Keung Lai

  4. International Business School, Shaanxi Normal University, Xi’an, 710062, China

    Kin Keung Lai

  5. School of Management, Hefei University of Technology, Hefei, 230009, China

    Liang Liang

Authors
  1. Shanshan Zheng
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  2. Yelin Fu
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  3. Kin Keung Lai
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  4. Liang Liang
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Corresponding author

Correspondence to Shanshan Zheng.

Additional information

This research was supported by the National Natural Science Foundation of China under Grant Nos. 71121061, 71272064, and 71390335.

This paper was recommended for publication by Editor WANG Shouyang.

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Zheng, S., Fu, Y., Lai, K.K. et al. An improvement to multiple criteria ABC inventory classification using Shannon entropy. J Syst Sci Complex 30, 857–865 (2017). https://doi.org/10.1007/s11424-017-5061-8

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  • DOI: https://doi.org/10.1007/s11424-017-5061-8

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