ERP Decision Support System using Multi Objective Optimization– An Exploratory Study
Enterprise Resource Planning (ERP) system is the main focus in this research, the actual performance criteria
retrieved from different departments within ERP database for twelve product portfolios emphasised the need for a systematic
approach for a Decision Support System (DSS). The proposed DSS helps the decision maker (DM) purchase the right
products, in the right quantities and at minimal inventory carrying cost and at the same time meets the highest customer
service by minimizing the probability of stock out instances. Multi-objective optimization of Profit-Service Level-Cash
liquidity trade-off objectives supported the DM in finding the most preferred Pareto optimal solution and introduced a
posteriori method in consonance with the generate-first-choose later approach in dealing with multi-objective optimization
using Weighted Metric Method (Lp method) to find the Pareto Optimal set.
Keywords- ERP, Decision Support System, Pareto Optimization, Multi-objective decision making, weighted metric method,
Lingo, Product Mix multi objectives optimization.