Selection of a Facility Location for a Cosmetics Company by Integrated F-LBWA and I-RAWEC Methods

Abstract The first step of a company’s achievement in upcoming periods starts with the decision of correct investment location. It is also essential to consider scientific approaches in this context. Within the scope of this fundamental principle, this study aimed to determine the most feasible investment location among 47 African countries for a leading cosmetics company operating in Türkiye. The indicators outlined in the World Bank’s Doing Business reports are used for the first time in this research within the context of investment location selection studies that employ quantitative decision-making methods. The weighting of 10 main criteria and 44 sub-criteria in the report is performed by Fuzzy Level Based Weight Assessment (F-LBWA) method. The priority ordering of 47 African countries is determined using the Improved—Ranking Alternatives with Weights of Criterion (I-RAWEC) method, which is derived by implementing an improvement to the normalization stage of Ranking Alternatives with Weights of Criterion (RAWEC) approach. Moreover, in order to confirm the validity of the proposed method, a sensitivity analysis is conducted, which examines the impact of a gradual change in criterion weights on the order of the alternatives. The findings of this study present a novel approach to assessing potential investment opportunities in Africa for the cosmetics industry and offer a significant starting point for future investment decisions and research endeavors.