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

Jesus M. Larranaga Lesaca, Ekaitz Zulueta Guerrero, Fernando Elizagarate Ubis and Jon Alzola Bernardo
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Jesus M. Larranaga Lesaca: Dpto. de Organización de Empresas. Escuela Universitaria de Ingeniería de Vitoria-Gasteiz. University of the Basque Country, Vitoria-Gasteiz, Spain
Ekaitz Zulueta Guerrero: Dpto. de Ingeniería de sistemas. Escuela Universitaria de Ingeniería de Vitoria-Gasteiz. University of the Basque Country, Vitoria-Gasteiz, Spain
Fernando Elizagarate Ubis: Dpto. de Organización de Empresas. Escuela Universitaria de Ingeniería de Vitoria-Gasteiz. University of the Basque Country, Vitoria-Gasteiz, Spain
Jon Alzola Bernardo: Tecnalia Research & Innovation, Minano, Spain

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2011, vol. 12, issue 2, 350-365

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.

Keywords: quantitative management; quantitative methods; decision-making; linear programming; operational research; heuristics; hybrid methods; memetic algorithms. (search for similar items in EconPapers)
JEL-codes: D81 E27 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:12:y:2011:i:2:p:350-365

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