Performance evaluation of advanced manufacturing technologies: A De novo approach

•Performance evaluation of Advanced Manufacturing Technologies in fuzzy environment.•Comparative study of two MCDM methods namely PROMETHEE and Dempster-Shafer Theory.•Psychology and Cognitive mind of decision makers are considered in decision making.•Paradigm shift of manufacturing strategy from mass production to mass customization.•Post optimality analysis of the alternatives for checking the robustness of the model.

Modern manufacturing world is a super competitive place. To sustain in this environment, manufacturing organizations need a bit more of effectiveness, flexibility and innovation while manufacturing their products. This can be achieved by grasping the benefits extracted from the use of Advanced Manufacturing Technology (AMT). Selection and evaluation of AMTs have been receiving significant attention in today's manufacturing environment as this seems to be the only way out for sustainable development. The present paper focuses on the two almost unrevealed multi-criteria approaches namely preference ranking organization method for enrichment evaluations (PROMETHEE) and Dempster-Shafer Theory of evidence (DST) based on the basic idea of technique for order preference by similarity to ideal solution (TOPSIS). It also depicts a comparative study of the two for solving an AMT selection problem in a given organizational environment.