IDEAS home Printed from https://ideas.repec.org/a/spr/cejnor/v26y2018i3d10.1007_s10100-018-0543-x.html
   My bibliography  Save this article

Comparative analysis of application efficiency of two iterative multi objective linear programming methods (MP method and STEM method)

Author

Listed:
  • Tunjo Perić

    (Faculty of Economics and Business Zagreb)

  • Zoran Babić

    (Faculty of Economics Split)

  • Josip Matejaš

    (Faculty of Economics and Business Zagreb)

Abstract

In this paper we consider a production plan optimization problem for a company that produces textile products. The problem is solved using two iterative methods: a new method based on the cooperative game theory (MP method) and the well-known STEM method. Their application efficiency and the solutions obtained are compared. For this purpose we use four groups of criteria: (1) the general characteristics of the method (2) the criteria from the standpoint of the decision makers, (3) the criteria from the perspective of the analysts, and (4) the ‘economic’ criteria. The analysis indicates that both methods are highly efficient for solving this kind of production plan optimization problems. However, the decision-makers preferred the MP method.

Suggested Citation

  • Tunjo Perić & Zoran Babić & Josip Matejaš, 2018. "Comparative analysis of application efficiency of two iterative multi objective linear programming methods (MP method and STEM method)," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(3), pages 565-583, September.
    • Handle: RePEc:spr:cejnor:v:26:y:2018:i:3:d:10.1007_s10100-018-0543-x
    DOI: 10.1007/s10100-018-0543-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10100-018-0543-x
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10100-018-0543-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. JosÉ Figueira & Salvatore Greco & Matthias Ehrogott, 2005. "Multiple Criteria Decision Analysis: State of the Art Surveys," International Series in Operations Research and Management Science, Springer, number 978-0-387-23081-8, December.
    2. Jyrki Wallenius, 1975. "Comparative Evaluation of Some Interactive Approaches to Multicriterion Optimization," Management Science, INFORMS, vol. 21(12), pages 1387-1396, August.
    3. Ernestas Filatovas & Algirdas Lančinskas & Olga Kurasova & Julius Žilinskas, 2017. "A preference-based multi-objective evolutionary algorithm R-NSGA-II with stochastic local search," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(4), pages 859-878, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. M. J. Geiger & R. Vetschera, 2019. "Selected papers from the workshop of the GOR Working Group Decision Theory and Applications 2017," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 27(2), pages 283-285, June.
    2. Josip Matejaš & Tunjo Perić & Danijel Mlinarić, 2021. "Which efficient solution in multi objective programming problem should be taken?," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 967-987, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Josip Matejaš & Tunjo Perić & Danijel Mlinarić, 2021. "Which efficient solution in multi objective programming problem should be taken?," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 967-987, September.
    2. Fancello, Giovanna & Tsoukiàs, Alexis, 2021. "Learning urban capabilities from behaviours. A focus on visitors values for urban planning," Socio-Economic Planning Sciences, Elsevier, vol. 76(C).
    3. Bana e Costa, Carlos A. & Oliveira, Carlos S. & Vieira, Victor, 2008. "Prioritization of bridges and tunnels in earthquake risk mitigation using multicriteria decision analysis: Application to Lisbon," Omega, Elsevier, vol. 36(3), pages 442-450, June.
    4. Denys Yemshanov & Frank H. Koch & Yakov Ben‐Haim & Marla Downing & Frank Sapio & Marty Siltanen, 2013. "A New Multicriteria Risk Mapping Approach Based on a Multiattribute Frontier Concept," Risk Analysis, John Wiley & Sons, vol. 33(9), pages 1694-1709, September.
    5. Corrente, Salvatore & Figueira, José Rui & Greco, Salvatore, 2014. "The SMAA-PROMETHEE method," European Journal of Operational Research, Elsevier, vol. 239(2), pages 514-522.
    6. Comino, E. & Ferretti, V., 2016. "Indicators-based spatial SWOT analysis: supporting the strategic planning and management of complex territorial systems," LSE Research Online Documents on Economics 64142, London School of Economics and Political Science, LSE Library.
    7. Kaveh Madani & Laura Read & Laleh Shalikarian, 2014. "Voting Under Uncertainty: A Stochastic Framework for Analyzing Group Decision Making Problems," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 28(7), pages 1839-1856, May.
    8. Kadziński, MiŁosz & Greco, Salvatore & SŁowiński, Roman, 2012. "Extreme ranking analysis in robust ordinal regression," Omega, Elsevier, vol. 40(4), pages 488-501.
    9. Haurant, P. & Oberti, P. & Muselli, M., 2011. "Multicriteria selection aiding related to photovoltaic plants on farming fields on Corsica island: A real case study using the ELECTRE outranking framework," Energy Policy, Elsevier, vol. 39(2), pages 676-688, February.
    10. Growiec, Jakub, 2018. "Factor-specific technology choice," Journal of Mathematical Economics, Elsevier, vol. 77(C), pages 1-14.
    11. José M. Merigó & Anna M. Gil-Lafuente & Daniel Palacios-Marqués, 2014. "A new method for fuzzy decision making under risk and uncertainty," International Journal of Business Continuity and Risk Management, Inderscience Enterprises Ltd, vol. 5(1), pages 29-42.
    12. Franceschini, Fiorenzo & Maisano, Domenico, 2015. "Checking the consistency of the solution in ordinal semi-democratic decision-making problems," Omega, Elsevier, vol. 57(PB), pages 188-195.
    13. Bouyssou, Denis & Marchant, Thierry, 2007. "An axiomatic approach to noncompensatory sorting methods in MCDM, II: More than two categories," European Journal of Operational Research, Elsevier, vol. 178(1), pages 246-276, April.
    14. Grabisch, Michel & Kojadinovic, Ivan & Meyer, Patrick, 2008. "A review of methods for capacity identification in Choquet integral based multi-attribute utility theory: Applications of the Kappalab R package," European Journal of Operational Research, Elsevier, vol. 186(2), pages 766-785, April.
    15. Pablo Aragonés‐Beltrán & Mª. Carmen González‐Cruz & Astrid León‐Camargo & Rosario Viñoles‐Cebolla, 2023. "Assessment of regional development needs according to criteria based on the Sustainable Development Goals in the Meta Region (Colombia)," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(2), pages 1101-1121, April.
    16. Boris Yatsalo & Sergey Gritsyuk & Terry Sullivan & Benjamin Trump & Igor Linkov, 2016. "Multi-criteria risk management with the use of DecernsMCDA: methods and case studies," Environment Systems and Decisions, Springer, vol. 36(3), pages 266-276, September.
    17. Juliana Martins Ruzante & Valerie J. Davidson & Julie Caswell & Aamir Fazil & John A. L. Cranfield & Spencer J. Henson & Sven M. Anders & Claudia Schmidt & Jeffrey M. Farber, 2010. "A Multifactorial Risk Prioritization Framework for Foodborne Pathogens," Risk Analysis, John Wiley & Sons, vol. 30(5), pages 724-742, May.
    18. Becchio, Cristina & Bottero, Marta Carla & Corgnati, Stefano Paolo & Dell’Anna, Federico, 2018. "Decision making for sustainable urban energy planning: an integrated evaluation framework of alternative solutions for a NZED (Net Zero-Energy District) in Turin," Land Use Policy, Elsevier, vol. 78(C), pages 803-817.
    19. Morgenroth, Edgar & FitzGerald, John & FitzGerald, John, 2006. "Summary and Conclusions," Book Chapters, in: Morgenroth, Edgar (ed.),Ex-Ante Evaluation of the Investment Priorities for the National Development Plan 2007-2013, chapter 24, pages 317-333, Economic and Social Research Institute (ESRI).
      • Baker, Terence J. & FitzGerald, John & Honohan, Patrick & FitzGerald, John & Honohan, Patrick, 1996. "Summary and Conclusions," Book Chapters, in: Baker, Terence J. (ed.),Economic Implications for Ireland of EMU, chapter 12, pages 339-352, Economic and Social Research Institute (ESRI).
    20. Fernandez, Eduardo & Navarro, Jorge & Bernal, Sergio, 2010. "Handling multicriteria preferences in cluster analysis," European Journal of Operational Research, Elsevier, vol. 202(3), pages 819-827, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:cejnor:v:26:y:2018:i:3:d:10.1007_s10100-018-0543-x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.