Comparative Analysis of Multi-Criteria Evaluation of Warehouse Location Problem Based on Grey Systems Theory and VIKOR Method

The warehouse location selection problem affects businesses and is one of the most important strategic decisions for the business executives in the long run. Generally, it can be solved by multi-criteria decision making methods. In this study, Grey Systems Theory and VIKOR (Vise Kriterijumska Optimizacija I Kopmpromisno Resenje) multi-criteria decision making methods were used to select the most suitable location according to the warehouse location selection problem. Both methods were evaluated in terms of a business operating in the food sector. These methods were analyzed by the warehouse location selection variables such as transportation cost, storage cost, labor cost, inventory handling costs, warehouse capacity, store distance, and distance to production center. Consequently, the methods provided the same results despite the differences in their methodologies