An Optimization Techniques on the Managerial Decision MakingJournal: International Journal of Mechanical and Production Engineering Research and Development (IJMPERD ) (Vol.8, No. 6)
Publication Date: 2019-12-31
Authors : P. Prashanth Kumar O. Vinodkumar; T. Yugandhar;
Page : 507-516
Keywords : Linear Programming; Goal Programming & SCE;
Decision making is essential for organizing a Small Scale Enterprise which faces a large number of problems requiring decisions. The Small Scale Enterprises sector has appeared as a domestic device of expansion in several developing and developed economies of the world. The mathematical model designed to help business manager's plan and make the necessary decision to allocate resources. The present paper discusses the optimization techniques (Linear Programming (LP) and Priority Weighted Goal Programming (PWGP) and Chebyshey Goal Programming (CGP)) to optimize Goal constraints of a small scale enterprise. The results illustrate that the decision makers can select the Priority Weighted Goal Programming model as compare as LP and CGP models.
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