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Optimization and Neural Network in New Product Development
Author(s) -
Lin C.,
Madu C.N.,
Kuei C.H.,
Yeh J.M.
Publication year - 1995
Publication title -
international transactions in operational research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.032
H-Index - 52
eISSN - 1475-3995
pISSN - 0969-6016
DOI - 10.1111/j.1475-3995.1995.tb00025.x
Subject(s) - analytic hierarchy process , prosperity , computer science , new product development , artificial neural network , product (mathematics) , linear programming , process (computing) , operations research , management science , business , artificial intelligence , economics , marketing , engineering , mathematics , algorithm , geometry , economic growth , operating system
New product introduction is vital to a firm's growth and prosperity. A company needs to develop a process to determine how to find and develop new product ideas and finally, how to successfully introduce them into the marketplace. To address this problem, this study proposes a new approach that combines neural network, analytic hierarchy process (AHP) and linear programming (LP). A neural network is used to classify the feasibility of ideas/projects in new product development and the theory of AHP is applied to evaluate the interdependence among projects. A linear programming model is then developed and used to allocate the limited financial resources of the firm to the competing projects.