Lean Equipment Performance Evaluation based on an Integrated MCGDM Approach under Neutrosophic Environment

In this present competitive scenario, overall manufacturing cost and machine productivity play a major role in achieving desired results in the steel processing industry. The selection of the right machine/equipment at the right place and under the right conditions can enhance a company's overall performance in all aspects. Machine/equipment leanness refers to achieving significant results with minimal inputs, which may be measured in terms of machine productivity, reliability, and maintainability. Measuring machine leanness is critical and becomes a major perspective in the long-term sustainability of the manufacturing firm. Lean equipment evaluation with critical attributes of operating cost, productivity, usability capacity, and quality is applied to identify the performance level of equipment and consider progressive improvements. This research focuses on measuring equipment leanness based on a newly proposed integrated multi-criteria group decision-making approach, utilizing Neutrosophic Set Theories, which best suit practical environments.