For the solution of decision making problems with multi criteria, the literature presents many methodologies
under the title of decision theory. In this context, AHP, TOPSIS, ELECTRE and Grey Theory are wellknown
and the most acceptable methodologies. Firstly, in this study; these methodologies are compared
in terms of main characteristic of decision theory and thus advantages and disadvantages of these methodologies
are offered. Later, the application of these methodologies on the warehouse selection problem,
which is one of the main topics of logistics management that has a wide range of applications with multicriteria
decision making methodologies, is presented as a case study which is characterized in retail sector,
that maintains high uncertainity and product variety and then how to choose the best warehouse
location among many alternatives has been shown.