A Model for Failure Mode and Effects Analysis based Single Valued Neutrosophic Sets

Failure Modes and Effects Analysis (FMEA) is an effective risk management technique widely used for performance improvement and risk mitigation in various fields of industry and science. However, FMEA has been justifiably criticized for its many shortcomings and limitations. The current study proposed a novel model for FMEA based on single-valued neutrosophic (SVN) approach to overcome the shortcomings of classical FMEA in the area of risk prioritization. This approach offers advantages over previous models and provides a means to evaluate Failure modes (FMS), while dealing with vague concepts and insufficient data In this approach, SVNSs are used to deal with the uncertainty and vagueness in information. Analytic Hierarchy Process (AHP) that is integrated with SVNSs is used to determine the weight of risk factors for FMEA. In the end, risk items are ranked by SVN version of VIKOR (Vlsekriterijumska Optimizacija I Kompromisno Resenje) based on the obtained factor weights. To demonstrate its applicability, the method is applied to a case study of Iran Central Iron Ore Co. (ICIOC) (Bafgh, Iran). The results indicate that the FMS of Sanctions, Price and cost fluctuations and Inflation and exchange rate changesand are the most important in ICIOC. As a result, this method helps to improve the performance of this company by identifying and prioritizing failure cases in conditions of ambiguity and uncertainty, which can be used in other industries as well.