Decision-making Tools and Memetic Algorithms in Management and Linear Programming Problems
Decision-making Tools and Memetic Algorithms in Management and Linear Programming Problems
Author(s): Jesús M. Larrañaga Lesaca, Ekaitz Zulueta Guerrero, Fernando Elizagarate Ubis, Jon Alzola BernardoSubject(s): Business Economy / Management, Methodology and research technology
Published by: EDITURA ASE
Keywords: quantitative management; quantitative methods; decision-making; linear programming; operational research; heuristics; hybrid methods; memetic algorithms;
Summary/Abstract: Operational Research uses a set of tools based on scientific research principles to achieve rational and meaningful management decisions. This article tries to give solution to a highly complex Linear Programming problem by using Simplex method, Solver and a hybrid prototype which combines the theories of Genetic Algorithms with a new local search heuristic technique. Hybridization of these two techniques is becoming known as Memetic Algorithm. Additionally, this article tries to present different techniques to support management decision-making, with the intention of being used increasingly in the business environment sustaining, thus, decisions by mathematics or artificial intelligence and not only by experience.
Journal: Revista de Management Comparat Internațional
- Issue Year: 12/2011
- Issue No: 2
- Page Range: 350-365
- Page Count: 16
- Language: English
