Tender Participation Selection Problem with Fuzzy Approach

One of the key factors for the successiveness of a company is to share the finance, facilities and human resources to the most profit-making projects, this factor can be much more affecting to those kinds of companies conducting overseas projects. In a competitive environment, projects are putting out to tenders. A successive company is that participate in money-making low-risk tenders considering all resources of its company. In this paper after a brief introduction of this problem, a multi-objective binary model and a mixed-integer linear model will be introduced. The latter one addresses the situation where the decision-makers have different approaches to different tenders considering the rate of return as well as the probability of winning the tenders. As all the parameters of these models are uncertain, two different fuzzy approaches are applied to these problems. Finally, to illustrate the application of the proposed models some examples are presented. The results show that by the fuzzy approach new chances to improve the potential benefits arise.