Decision-making Tools and Memetic Algorithms in Management and Linear Programming Problems

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 theor...

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Bibliographic Details
Published in:Revista de Management Comparat International Vol. 12; no. 2; pp. 350 - 365
Main Authors: Lesaca, Jesús M. Larrañaga, Guerrero, Ekaitz Zulueta, Ubis, Fernando Elizagarate, Bernardo, Jon Alzola
Format: Journal Article
Language:English
Published: EDITURA ASE 01.05.2011
ASE Publishing House
Editura ASE
Subjects:
Business Economy / Management
decision-making
heuristics
hybrid methods
linear programming
memetic algorithms
Methodology and research technology
operational research
quantitative management
quantitative methods
heuristics
quantitative methods
operational research
quantitative management
decisionmaking
linear programming
hybrid methods
memetic algorithms
ISSN:1582-3458, 2601-0968
Online Access:Get full text
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Summary: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.
ISSN:1582-3458
2601-0968