Commenced in January 2007
Paper Count: 30172
Evaluating and Selecting Optimization Software Packages: A Framework for Business Applications
Abstract: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 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.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1332246Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2554
 A. Jadhav and R. Sonar, "Evaluating and selecting software packages: A review," Inform. Software Tech., vol. 51, no. 3, pp. 555-563, 2009.
 S. Comella-Dorda, J. Dean, E. Morris, and P. Oberndorf, "A process for cots software product evaluation," in COTS-Based Software Systems, ser. Lecture Notes in Computer Science, J. Dean and A. Gravel, Eds. Springer Berlin / Heidelberg, 2002, vol. 2255, pp. 86-96.
 J. Nikoukaran, V. Hlupic, and R. Paul, "A hierarchical framework for evaluating simulation software," Simulat. Pract. Theory, vol. 7, no. 3, pp. 219-231, 1999.
 T. W. Tewoldeberhan, A. Verbraeck, E. Valentin, and G. Bardonnet, "Software evaluation and selection: An evaluation and selection methodology for discrete-event simulation software," in Proc. 34th conf. Winter Simulation, San Diego, California, 2002, pp. 67-75.
 E. Colombo and C. Francalanci, "Selecting CRM packages based on architectural, functional, and cost requirements: Empirical validation of a hierarchical ranking model," Requirements Engineering, vol. 9, no. 3, pp. 186-203, 2004.
 X. B. Illa, X. Franch, and J. A. Pastor, "Formalising ERP selection criteria," in Proc. 10th Intl. Workshop on Software Specification and Design. Washington, DC, USA: IEEE Computer Society, 2000, pp. 115- 122.
 E. Ngai and E. Chan, "Evaluation of knowledge management tools using AHP," Expert Syst. Appl., vol. 29, no. 4, pp. 889-899, 2005.
 J. Nikoukaran and R. Paul, "Software selection for simulation in manufacturing: A review," Simulat. Pract. Theory, vol. 7, no. 1, pp. 1- 14, 1999.
 A. Arisha and M. El Baradie, "On the selection of simulation software for manufacturing application," in Proc. 19th Intl. Manufacturing Conf., Belfast, N. Ireland, 2002, pp. 495-507.
 N. Patel and V. Hlupic, "A methodology for the selection of knowledge management (KM) tools," in Proc. 24th Intl. Conf. Information Technology Interfaces, Cavtat, Croatia, 2002, pp. 369-374.
 A. Stylianou, G. Madey, and R. Smith, "Selection criteria for expert system shells: a socio-technical framework," Commun. ACM, vol. 35, no. 10, pp. 30-48, 1992.
 J. Bhuta and B. Boehm, "A method for compatible cots component selection," in COTS-Based Software Systems, ser. Lecture Notes in Computer Science, X. Franch and D. Port, Eds. Springer Berlin / Heidelberg, 2005, vol. 3412, pp. 132-143.
 J. Kontio, "OTSO: A systematic process for reusable software component selection," Univ. of Maryland Institute for Advanced Computer Studies Report No. UMIACS-TR-95-63, College Park, MD, USA, Tech. Rep., 1995.
 T. Saaty, "How to make a decision: The analytic hierarchy process," Eur. J. Oper. Res., vol. 48, no. 1, pp. 9-26, 1990.
 J. Curry, Jr. and D. M. Bonner, How to Find and Buy Good Software: A Guide for Business and Professional People. Prentice Hall Professional Technical Reference, 1983.
 J. Swisher, P. Hyden, S. Jacobson, and L. Schruben, "Simulation optimization: A survey of simulation optimization techniques and procedures," in Proc. 32nd conf. Winter Simulation, San Diego, CA, USA, 2000, pp. 119-128.
 E. Tekin and I. Sabuncuoglu, "Simulation optimization: A comprehensive review on theory and applications," IIE Trans., vol. 36, no. 11, pp. 1067-1081, 2004.
 S. Rosen, C. Harmonosky, and M. Traband, "Optimization of systems with multiple performance measures via simulation: Survey and recommendations," Comput. Ind. Eng., vol. 54, no. 2, pp. 327-339, 2008.
 H. Beyer and B. Sendhoff, "Robust optimization-a comprehensive survey," Comput. Method. Appl. M., vol. 196, no. 33-34, pp. 3190-3218, 2007.
 W. Abohamad and A. Arisha, "Optimisation methods in supply chain applications: A review," in Proc. 12th annu. Irish Academy of Management Conf., Galway - Mayo Institute of Technology, Ireland, 2009.
 X. Franch and J. Carvallo, "Using quality models in software package selection," IEEE software, vol. 20, no. 1, pp. 34-41, 2003.