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New Product Selection Using Fuzzy Linear Programming and Fuzzy Monte Carlo Simulation

  • İrem Uçal Sarı
  • Cengiz Kahraman
Part of the Communications in Computer and Information Science book series (CCIS, volume 300)

Abstract

Investment decisions are important due to their critical role in organizations’ success. Sometimes, especially in uncertain conditions the results obtained from traditional analysis techniques can be different from the real world results. Due to this fact the techniques that take uncertainty into account are preferred in investment analysis to aware of the effect of an uncertain environment. In this paper, fuzzy Monte Carlo simulation method is used to determine the best investment strategy on new product selection for an organization in the condition when the fuzzy net present value is not the only point of concern for decision making.

Keywords

Fuzzy Monte Carlo Simulation Method Capital Budgeting Linear Programming 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • İrem Uçal Sarı
    • 1
  • Cengiz Kahraman
    • 1
  1. 1.Industrial Engineering Departmentİstanbul Technical UniversityMaçkaTurkey

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