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- Title
Analysis of Multiple Constraints and Strategic Investment Decision with Proposed Algorithm.
- Authors
Chakraborty, P. S.; Nallusamy, S.; Sobya, D.; Majumdar, G.; Sarkar, Bijan
- Abstract
As a consequence of fierce global competition and a shorter product life cycle, sometimes demand from the market exceeds the manufacturing capacity of the organization. Under such situations constrained resources limit production capacity through the first part of this paper, an attempt has been made to find out the optimal product mix in case of multiple constraints by using the Theory of Constraints (TOC) and Linear-Integer Programming (LIP). In this case of multiple resource constraints, the throughput generated by TOC is more than that of LIP, but the solution, provided by TOC, was found infeasible. Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is used for to recital assessment of investment alternatives with a view to exploring the opportunity embedded in multiple resource constraint problems. Capital investment is a major decisive factor in any investment process and it has to be separately emphasized. In the final section an algorithm, holistic in nature, is proposed to find out the best alternative in a utopian environment. The proposed algorithm is a hybrid of TOPSIS and capital investment. To make an eclectic decision sensitivity analysis was also reported.
- Subjects
PRODUCT life cycle; INTERNATIONAL competition; TOPSIS method; ALTERNATIVE investments; THEORY of constraints
- Publication
International Journal of Performability Engineering, 2022, Vol 18, Issue 12, p863
- ISSN
0973-1318
- Publication type
Article
- DOI
10.23940/ijpe.22.12.p4.863873