Intelligent modeling method based on genetic algorithm for partner selection in virtual organizations
AbstractThe goal of a Virtual Organization is to find the most appropriate partners in terms of expertise, cost wise, quick response, and environment. In this study we propose a model and a solution approach to a partner selection problem considering three main evaluation criteria: cost, time and risk. This multiobjective problem is solved by an improved GA that includes meiosis specific characteristics and step-size adaptation for the mutation operator. The algorithm performs strong exploration initially and exploitation in later generations. It has high global search ability and a fast convergence rate and also avoids premature convergence. On the basis of the numerical investigations, the incorporation of the proposed enhancements has been successfully proved.
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Bibliographic InfoArticle provided by Prague Development Center in its journal Business and Economic Horizons (BEH).
Volume (Year): 5 (2011)
Issue (Month): 2 (April)
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Virtual organization; partner selection; optimization; genetic algorithm;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
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