Use of consistency index, expert prioritization and direct numerical inputs for generic fuzzy-AHP modeling: A process model for shipping asset management

The aim of this paper is to develop a generic version of the conventional fuzzy-analytic hierarchy process (FAHP) method and investigate the shipping asset management (SAM) problem in the dry bulk shipping market. The recent literature has various applications of the FAHP, but these studies lack consistency control, use identical decision support rather than weighted expert choices, and lack measurable criteria. The proposed model, generic fuzzy-AHP (here after GF-AHP), provides a standard control of consistency on the decision matrix for the expert group. GF-AHP also improves the capabilities of the FAHP by executing direct numerical inputs without expert consultation. In practical business, some of the criteria can be easily calculated and expert consultation is a redundant process. Therefore, GF-AHP presents how to transform such numerical inputs to a priority scale. Finally, expertise differences on the decision group are reflected in the GF-AHP process by an expert weighting algorithm.