A Fuzzy Parameterized Multiattribute Decision-Making Framework for Supplier Chain Management Based on Picture Fuzzy Soft Information

Supplier selection as a multiattribute decision-making (MADM) problem has various inherent uncertainties due to a number of symmetrical variables. In order to handle such information-based uncertainties, rational models like intuitionistic fuzzy sets have already been introduced in the literature. However, a picture fuzzy set (PiFS) with four dimensions of positive, neutral, negative, and rejection is better at capturing and interpreting such kinds of ambiguous information. Additionally, fuzzy parameterization (FPara) is helpful for evaluating the degree of uncertainty in the parameters. This study aims to develop a fuzzy parameterized picture fuzzy soft set (FpPiFSS) by integrating the ideas of PiFS and FPara. This integration is more adaptable and practical since it helps decision makers manage approximation depending on their objectivity and parameterization uncertainty. With the assistance of instructive examples, some of the set-theoretic operations are examined. A decision support framework is constructed using matrix manipulation, preferential weighting, fuzzy parameterized grades based on Pythagorean means, and the approximations of decision makers. This framework proposes a reliable algorithm to evaluate four timber suppliers (initially scrutinized by perusal process) based on eight categorical parameters for real estate projects. In order to accomplish suppliers evaluation, crucial validation outcomes are taken into account, including delivery level, purchase cost, capacity, product quality, lead time, green degree, location, and flexibility. To assess the advantages, dependability, and flexibility of the recommended strategy, comparisons in terms of computation and structure are provided. Consequently, the results are found to be reliable, analog, and consistent despite the use of fuzzy parameterization and picture fuzzy setting.