Search results for " optimization"

ELECTRE III to dynamically support the decision maker about the periodic replacements configurations for a multi-component system

2013

The problem tackled by the present paper concerns the selection of the elements of a repairable and stochastically deteriorating multi-component system to replace (replacements configuration) during each scheduled and periodical system stop within a finite optimization cycle, by ensuring the simultaneous minimization of both the expected total maintenance cost and the system unavailability. To solve the considered problem, a combined approach between multi-objective optimization problem (MOOP) and multi-criteria decision making (MCDM) resolution techniques is proposed. In particular, the @e constraint method is used to single out the optimal Pareto frontier whereas the ELECTRE III multi-cri…

Integration of Two Multiobjective Optimization Methods for Nonlinear Problems

2003

In this paper, we bring together two existing methods for solving multiobjective optimization problems described by nonlinear mathematical models and create methods that benefit from both heir strengths. We use the Feasible Goals Method and the NIMBUS method to form new hybrid approaches. The Feasible Goals Method (FGM) is a graphic decision support tool that combines ideas of goal programming and multiobjective methods. It is based on the transformation of numerical information given by mathematical models into a variety of feasible criterion vectors (that is, feasible goals). Visual interactive display of this variety provides information about the problem that helps the decision maker to…

Stochastic Decision Support Models and Optimal Stopping Rules in a New Product Lifetime Testing

2010

Determining when to stop a statistical test is an important management decision. Several stopping criteria have been proposed, including criteria based on statistical similarity, the probability that the system has a desired reliability, and the expected cost of remaining faults. This paper presents a new stopping rule in fixed-sample testing based on the statistical estimation of total costs involved in the decision to continue beyond an early failure as well as a stopping rule in sequential-sample testing to determine when testing should be stopped. The paper considers the problem that can be stated as follows. A new product is submitted for lifetime testing. The product will be accepted …

An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio

2015

Drugs available in the market today, selected several years ago under very uncertain future scenario, have experienced a long and expensive process of research and development carried out following both a closed and an open innovation path. To support this critical selection process, we propose a Decision Support System, able to choose among different candidates the most promising drugs along their best development path. The Decision Support System, based on a real options portfolio optimization model, mapping tools, and what-if rules as well, has been applied to a numerical example available in literature, and the research findings show interesting managerial and academic implications. Cop…

Some recent contributions to routing and location problems

2003

CORAL 2003, a Conference on Routing and Location, washeld in Puerto de la Cruz (Tenerife, Spain) from February24–26, 2003. A wonderful place, close to the black sand ofthe beach, and a nice temperature welcomed a group ofsenior and young researchers from Canada, England,France, Germany, and Spain. Social activities were alsoprovided and sponsored by the Cabildo Insular de Tenerife(the local government) and TITSA (the public bus transpor-tation company on the island). The conference corre-sponded to the third annual meeting of a research project,funded by the Spanish Ministry of Science and Technology,developing a Decision Support System for Vehicle Routingand Facility Location Problems (SAD…

Stochastic multicriteria acceptability analysis using the data envelopment model

2006

Abstract Data envelopment analysis (DEA) and stochastic multicriteria acceptability analysis (SMAA-2) are methods for evaluating alternatives based on multiple criteria. While DEA is mainly an ex-post tool used for classifying alternatives into efficient and inefficient ones, SMAA-2 is an ex-ante tool for supporting multiple criteria decision-making. Both methods use a kind of value function where the importance of criteria is modeled using weights. Unlike many other methods, neither DEA nor SMAA-2 requires decision-makers’ weights as input. Instead, these so-called non-parametric methods explore the weight space in order to identify weights favorable for each alternative. This paper introd…

Interactive MCDM Support System in the Internet

1998

NIMBUS is an interactive multiobjective optimization system. Among other things, it is capable of solving complicated real-world applications involving nondifferentiable and nonconvex functions. We describe an implementation of NIMBUS operating in the Internet, where the World- Wide Web (WWW) provides a graphical user interface. Different kind of visualizations of alternatives produced are available for aiding in the solution process.

Deep drawing process parameter design: a multi objective optimization approach

2009

An Optimized Roadside Units (RSU) Placement for Delay-Sensitive Applications in Vehicular Networks

2015

International audience; Over the last few years, a lot of applications have been developed for Vehicular Ad Hoc NETworks (VANETs) to exchange information between vehicles. However, VANET is basically a Delay Tolerant Network (DTN) characterized by intermittent connectivity, long delays and message losses especially in low density regions [1]. Thus, VANET requires the use of an infrastructure such as Roadside Units (RSUs) that permits to enhance the network connectivity. Nevertheless, due to their deployment cost, RSUs need to be optimally deployed. Hence, the main objective of this work is to provide an optimized RSUs placement for delay-sensitive applications in vehicular networks that imp…

On the Consistent Use of VaR in Portfolio Performance Evaluation: A Cautionary Note

2010

The portfolio performance measures based on the Value-at-Risk (VaR) concept have gained widespread popularity and are often used in empirical studies. Unfortunately, we have noticed that in majority of empirical studies a VaR-based performance measure is used inconsistently. The goal of this paper is, therefore, to emphasize how to consistently use VaR in portfolio performance evaluation. We also elaborate on a simple framework that allows to derive a general formula for a portfolio performance measure which is not limited to the use of VaR-based reward and risk measures, but is valid for all reward and risk measures that satisfy a few plausible properties.