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A Ranking Model for the Selection and Ranking of Commercial Off-the-Shelf Components

In this article, a deterministic model for the selection and ranking of commercial off-the-shelf (COTS) components is developed on the basis of fuzzy modified distance-based approach (FMDBA). The COTS selection and ranking problem is modeled as multicriteria decision making problem due to the involvement of multiple ranking criteria like functionality, reliability, compatibility, etc. FMDBA is the combination of the fuzzy set theory and the modified distance-based approach. To show the working of the developed ranking model, a case study of the e-payment system is demonstrated which aims on the selection and ranking of eight COTS components over four major categories of ranking criteria. FMDBA provides a comprehensive ranking of the components based on their calculated composite distance values. To depict the docility of FMDBA method, the results obtained are also compared with the existing decision-making methodologies.