APPLICATION OF ELECTRE METHOD IN PERFORMANCE ANALYSIS OF FOOD RETAILERS IN SERBIA

Abstract

Various methods of multicriteria optimization have been developed and have recently been widely applied in trade. With this in mind, this paper investigates the performance of food retailers in Serbia based on the ELECTRE method. The goal and purpose of researching the efficiency problems of leading food retailers using the ELECTRE method is to see as realistically as possible their position on the food market in Serbia in order to improve in the future by more efficient control of critical factors and implementation of relevant measures. In addition to the challenges, topicality, significance and complexity, the reasons for researching the given problem in this paper are reflected in that. In addition, by applying the ELECTRE method, more realistic results are obtained in relation to the ratio analysis, especially in combination with other methods of multicriteria analysis (TOPSIS, AHP, ARAS and others). The results of the research show that Delhaize Serbia is the best company in terms of performance. This is the result of Delhaize Serbia's good position in the retail market in Serbia. It applies new business models (private label, sales of organic products, multi-channel sales - stores and electronic). It applies modern concepts of cost management, sales, assets, capital, customers, product categories and profit. In addition to all that, the digitalization of the entire business is at a high level. These and other factors have positively influenced its good positioning on the retail food market in Serbia.