Evaluating And Selecting Optimization Software Packages: A Framework For Business Applications

Waleed Abohamad, Amr Arisha
2010 Zenodo  
Owing the fact that optimization of business process is a crucial requirement to navigate, survive and even thrive in today-s volatile business environment, this paper presents a framework for selecting a best-fit optimization package for solving complex business problems. Complexity level of the problem and/or using incorrect optimization software can lead to biased solutions of the optimization problem. Accordingly, the proposed framework identifies a number of relevant factors (e.g. decision
more » ... variables, objective functions, and modeling approach) to be considered during the evaluation and selection process. Application domain, problem specifications, and available accredited optimization approaches are also to be regarded. A recommendation of one or two optimization software is the output of the framework which is believed to provide the best results of the underlying problem. In addition to a set of guidelines and recommendations on how managers can conduct an effective optimization exercise is discussed.
doi:10.5281/zenodo.1332245 fatcat:pjihq5nujfb33lrmui632tnbda