Selection of Third-Party Logistics Company Under Picture Fuzzy Environment

With the increasing demand of e-commerce and globalization, third-party logistics (3PLs) have become a vital aspect that connects businesses and the consumers. 3PLs provide service to businesses in handling their products while the parent business can focus on its core activities. 3PLs act as the supporting backbone to the businesses globally, largely carrying out the storage and transportation ventures and generating employment for many. It is crucial for businesses to choose the best 3PL company that would meet their requirements. Hence, this problem can be assessed under multi-criteria group decision making problem (MCGDM). Uncertainty may arise while making decision, hence picture fuzzy set (PFS) is a suitable tool that can deal such situation. In this paper, the conventional Stepwise Weight Assessment Ratio Analysis (SWARA) and Additive Ratio Assessment (ARAS) method are extended under picture fuzzy environment (PFE) using picture fuzzy weighted geometric operator (PFWGO) and then integrated to identify the best 3PL company. Furthermore, to validate the proposed approach, comparative analysis (CA) and sensitivity analysis (SA) have been performed.