Segmenting the manufacturing industries and measuring the performance: Using interval-valued triangular fuzzy TOPSIS method

In this globalized scenario, the overall performance of the manufacturing industries is the backbone of the development of the countries’ economies. In this research, the authors’ main objective of the study is to segment the manufacturing industries by using the triangular interval-valued fuzzy TOPSIS Method and find out the factors determining its performance. The researchers have collected the data from 350 manufacturing industries located in Puducherry, India. They applied a Simple Random sampling method by using a structured questionnaire from manufacturing industries. To analyze the data, the researchers used software packages like Excel, SPSS and LISREL 8.72. The researchers applied Confirmatory Factor Analysis, Triangular Interval-Valued Fuzzy TOPSIS Method, Chi square and Correspondent Analysis to conclude the result. Based on the factors loadings of the items, the contribution made by the items in respect of Performance may be ranked as Sales growth, Market share, Profit margin and Return on investment. With the help of Triangular Interval-Valued Fuzzy TOPSIS Method researchers segmented the manufacturing industries into three groups and by using the Chi square analysis the researchers found that the five demographics characteristics like Number of years in Business (Company), Scale of industry, Kind of manufacturing, Number of employees and location of the production plant of the respondents and these are significantly associated with segmenting the manufacturing industries and determine the performance of manufacturing industries.