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As the competition gets stiffer, it is imperative for many companies to stay competitive. To do so, companies must fine-tune their products in terms of what these products offer to the customer, i.e. what product features are supplied to the market. If the features can be quantified, as is typical in industry, particularly in metallurgy, mathematical methods are at hand to suggest in an exact way how to improve the product features so that they are closer to an ideal state. Some of these methods can be based on the mathematical concept of distance, which is one of the most important concepts in the world of science and technology. This concept is presented in the paper, and is used to suggest how companies can improve their competitiveness in a cost-effective way.
Keywords: Competitiveness, multicriteria decision-making© This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.