Unformatted text preview: lenge task. Decision Making Techniques are understood
as such science techniques which help
Decision Makers (DMs) to select relevant
course of actions, strategies or alternatives
among a set of actions based on quantitative
evaluation criteria. 3 Decision Making involves:
Objectives of the organizations
Preferred Criteria Decision Making Techniques:
Specific applicability Results:
Easy understand and use
4 Examples in Decision Making Selecting “best” alternatives based on
Top management in a company wants to
expand their business by building a new
factory. The potential alternating locations
are A, B, C. The criteria they consider for
establishing the factory are: minimize the
total cost which includes transportation cost
and investment cost.
Question: Which location will be the best choice?
Question: 5 Find the “best” product mixed quantity to
achieve maximum profit
A furniture company produce tables...
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