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Ch14-8th

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Goal Programming
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  Chapter 14 - Multicriteria Decision Making 1 Chapter 14 Multicriteria Decision Making Introduction to Management Science 8th Edition by Bernard W. Taylor III  Chapter 14 - Multicriteria Decision Making 2 Goal Programming Graphical Interpretation of Goal Programming Computer Solution of Goal Programming Problems with QM for Windows and Excel The Analytical Hierarchy Process Chapter Topics  Chapter 14 - Multicriteria Decision Making 3 Study of problems with several criteria, multiple criteria, instead of a   single objective when making a decision. Two techniques discussed: goal programming  , and the  analytical hierarchy process . Goal programming is a variation of linear programming considering more than one objective  (goals) in the objective function. The analytical hierarchy process develops a score for each decision alternative based on comparisons of each under different criteria reflecting the decision makers preferences. Overview  Chapter 14 - Multicriteria Decision Making 4 Beaver Creek Pottery Company Example: Maximize Z = $40x 1  + 50x 2  subject to: 1x 1  + 2x 2     40 hours of labor 4x 2  + 3x 2     120 pounds of clay x 1 , x 2     0 Where: x 1  = number of bowls produced x 2  = number of mugs produced Goal Programming Model Formulation (1 of 2)
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