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Multiple Criteria Decision Making in Industry: (Studies in Production & Engineering Economics)

Multiple Criteria Decision Making in Industry: (Studies in Production & Engineering Economics)

          
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About the Book

In recent years the topic of multiple criteria decision making (MCDM) has received increasing attention in the literature and is rapidly becoming recognized as a practical approach to certain classes of management problems. This volume provides a refreshing insight into the practical use of the various techniques for solving problems in industry and moves the approach closer towards general acceptance. As well as providing a perceptive overview of the fundamentals of multiple criteria decision making and the various techniques, the volume also shows the practical application of the approach in both production management and business management situations. This volume will be essential reading for academics, both in teaching and research, and also to managers who wish to expand their knowledge and improve their decision making and evaluation strengths. The lucid style of the author will enable beginners in the MCDM field to follow the text with ease.

Table of Contents:
I. Multiple Criteria Decision Making - An Introduction. MCDM - balancing a variety of needs and goals. Definition of MCDM. Conflicting criteria. Definitions: attributes, objectives, goals, criteria. II. Fundamentals of Multicriterion Optimization. Formulation. Concept of optimal and efficient solutions. Concept of ideal solutions. III. Importance of Criteria. Introduction. Scales of measurement. Concept of weights. Assessing the multiple criteria. Ranking. Rating. Paired comparison. Successive comparisons. Delphi technique. Concept of tradeoffs. IV. Techniques. Single objective approach. Unifying objective functions approach. Global criterion method. Utility function method. Minimum deviation method. Compromise constraint method. Bicriterion linear programming. The case of multiple objective functions. Goal programming approach. Formulation. GP versus LP. Simplex method of goal programming. Some complications and their resolutions. Interactive approach. Step method. ``Game Theoretic'' technique. Interactive sequential conversion of objectives into constraints (ISOC). Compromise programming. Electre approach. Electre I. Electre II. Parametric approach. De Novo programming. Theoretical foundations. Formulation. Special characteristics. Effects of multiple pricing. Increasing cost of raw materials. Quantity discounts. Decreasing revenues. De Novo's applicability in MODM. V. MCDM Applications in Production Management. Introduction. Aggregate production planning. Generalized model. Other models. Multistage production planning and scheduling. Introduction. Model formulation. Production planning: the case of a cement plant. Production planning: short versus long term. Machine sequencing with forbidden early shipments. Quality control model: designing a sampling plan. Batch production planning. Resource and product mix problem: case study. Production situation. Unlimited demand situation. Limited demand situation. Multiobjective decision models. Global criterion method. Compromise constraint method. The step method (STEM). Goal setting and achievement under De Novo. General observations. VI. MCDM Applications in Business Management. Manpower planning. Manpower selection and allocation decisions. Assignment of persons to jobs. Financial planning. Marketing management. VII. MCDM Applications in Other Related Areas. Project crashing: time-cost tradeoff. Diffusion patterns of small industries. Project selection. A case of Asian preferential trade tariff arrangements. Model formulation. Model application: the case of the commodity sugar. Bicriterion transportation models: A case study. The models. Application of the model. Appendix. A Heuristic Algorithm for De Novo Programming. Subject Index. Author Index.


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Product Details
  • ISBN-13: 9780444705419
  • Publisher: Elsevier Science & Technology
  • Publisher Imprint: Elsevier Science Ltd
  • Height: 240 mm
  • No of Pages: 354
  • ISBN-10: 0444705414
  • Publisher Date: /12/1988
  • Binding: Hardback
  • Language: English
  • Series Title: Studies in Production & Engineering Economics


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