International Journal of Enterprise Modelling
Vol. 16 No. 3 (2022): Sep: Enterprise Modelling

A hybrid approach integrating goal programming, multiple criteria decision making, and dynamic decision-making for production planning

Naliaka Jacobs Yannis (Bucharest University of Economic Studies, Romania)
Giret Jia Zare (Bucharest University of Economic Studies, Romania)
Fang Lu-Tien Ceng (Bucharest University of Economic Studies, Romania)



Article Info

Publish Date
30 Sep 2022

Abstract

This study suggests combining Goal Programming, Multiple Criteria Decision Making (MCDM), and Dynamic Decision-Making to solve production planning difficulties. Production planning entails balancing conflicting goals and dynamic circumstances when allocating resources, scheduling production, and managing inventory. The hybrid approach provides decision-makers with a comprehensive and adaptive framework that balances conflicting objectives, analyzes options using numerous criteria, and accounts for the dynamic production environment. Goal Programming helps solve the production planning challenge. MCDM methods like AHP or TOPSIS analyze and rank various production plans based on multiple factors. Dynamic Decision-Making methods like stochastic programming or simulation optimization accommodate for demand, supply, and other uncertainties in the production environment. A numerical example shows how the hybrid approach develops an optimal production plan by minimizing deviations from desired targets. Decision-makers can evaluate objective priorities and their effects on the solution by altering objective weights in sensitivity analysis. The hybrid approach can handle conflicting objectives, evaluate options using numerous criteria, and adapt to a dynamic production environment, according to studies. The suggested approach provides decision-makers with a comprehensive framework for efficient and successful production planning, adding to current information. Applying the hybrid method to real-world case studies, addressing supply chain dynamics and sustainability, and using AI and machine learning to improve decision-making are future research objectives. Production planning using Goal Programming, MCDM, and Dynamic Decision-Making seems promising. It helps manufacturers optimize resource allocation, customer happiness, and operational efficiency

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Journal Info

Abbrev

ieia

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Industrial & Manufacturing Engineering Library & Information Science Mathematics Transportation

Description

The International Journal of Enterprise Modelling serves as a venue for anyone interested in business and management modelling. It investigates the conceptual forerunners and theoretical underpinnings that lead to research modelling procedures that inform research and ...