An interval-valued fuzzy MULTIMOOSRAL method for supplier evaluation in oil production projects

Meticulous project planning is pivotal for ensuring successful project outcomes, with strategic decision-making being a core component of this process. Among these decisions, selecting the right contractor is of paramount importance, particularly in the oil and gas sector where complexity, stringent safety regulations, and significant financial stakes are prevalent. The choice of contractor can significantly affect the project's success, highlighting the need for a meticulous selection process. This study presents a new approach for supplier selection in the oil and gas industry, utilizing an Interval-Valued Fuzzy MULTIMOOSRAL (IVF-MULTIMOOSRAL) method. This advanced methodology synthesizes the strengths of MOOSRA, MOORA, and MULTIMOORA techniques with interval-valued fuzzy sets to manage uncertainties in decision-making. Through a case study involving the evaluation of ten potential suppliers for a Vietnamese petroleum company, the IVF-MULTIMOOSRAL method demonstrates its practical application. The study assesses suppliers based on fifteen sub-criteria within five main categories: reliability, capability, agility, effective asset management, and cost. By providing a comprehensive framework for evaluating suppliers amidst uncertainty, this method facilitates more informed and adequate decision-making in the oil and gas supply chain. The IVF-MULTIMOOSRAL approach distinguishes itself by evaluating and ranking options across multiple criteria, ultimately integrating these assessments into a unified rating. This multifaceted approach not only enhances the precision of the selection process but also underscores the critical nature of the factors being evaluated.