Академический Документы
Профессиональный Документы
Культура Документы
DECISION MAKING
-A GOAL PROGRAMMING APPROACH
Group 4
Aspi, Maria Mercedes
Barillo, Bernadette Joyce
Billones, Jesica
Dela Cruz, Mark Allan
Realizo, Regina Marie
Objectives
Goal Programming
-an extension of linear programming, is a branch of multiobjective optimization, in which it deals with maximizing or
minimizing multiple objective functions subject to a set of
constraints.
Example
A small paint company manufactures two types of paint,
latex and enamel. In production, the company uses 10 hours
of labor to produce 100 gallons of latex and 15 hours of
labor to produce 100 gallons of enamel. The company has
40 hours of daily labor and 30 hours of overtime labour
available each week. Furthermore, if enamel paint is
produced, latex paint must also be produced. Each paint
generates a profit at the rate of $1.00 per gallon.
Example
The company has the following objectives listed in decreasing priority:
avoid the use of overtime
achieve a weekly profit of $1000
produce at least 700 gallons of enamel paint each week
Latex
Ename
l
10
15
$1
$1
Laborfor100gallons
(hours)
Constraints
Profitfor1gallon
Labour 70 hours/ wk
Latex paint Enamel paint
Goal 1: 10 L + 15 E 40
(Avoid Overtime)
(Profit)
Goal 3: E 7
(Labour)
(Production)
(Overtime)
(Profit)
(Profit)
PROJECT SELECTION
DECISION MAKING
-A GOAL PROGRAMMING APPROACH
V.Subbaiah,G.RavindraBabu&S.D.Sahrma
The data specifies for consideration nine mutually exclusive projects with
given present values of outlays for periods I&II and given present values of
investment proposals of large-scale industry in Hyderabad.
Objective Function:
Min a=P1d1 + P2d2 + P3d3 +P2d4 + 4P3d5 + P4d6 +
-
REFERENCES:
Hoisen, A. (2005). Two Variable Goal Programming Model with Priorities. Retrieved
from http://prejudice.tripod.com/ME30B/two_gp.htm
Kumar, A. (2015). Goal programming approach for the study of industrial problems,
(Mcdm), 141. Retrieved from http://shodhganga.inflibnet.ac.in/handle/10603/46789
V. Subbaiah, G. Ravindra Babu & S. D. Sahrma(2011). Project Selection Decision
Making-a Goal Programming Approach, Pacific-Asian Journal of Mathematics, 5(2).
Workday, H., & Erp, L. (n.d.). Innovation in Financial Management Innovation in
Financial Management, 3, 211229.
Man is a goal seeking animal. His life only has meaning if he is reaching out and striving for his goals.
Aristotle 384-322 BC