Interactive minimax optimisation for integrated performance analysis and resource planning

Authors:
Jian-Bo Yang;Dong-Ling Xu
Affiliations:
-;-
Venue:
Computers and Operations Research
Year:
2014

Citing 7
Cited 0

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Abstract

Analysing performances for future improvement and resource planning is a key management function. Data Envelopment Analysis (DEA) provides an analytical mean for performance modelling without assuming parametric functions. Multiple Objective Optimisation (MOO) is well-suited for resource planning. This paper reports an investigation in exploring relationships between DEA and MOO models for equivalent efficiency analysis in a MOO process. It is shown that under certain conditions minimax reference point models are identical to input-oriented dual DEA models for performance assessment. The former can thus be used for Hybrid Efficiency and Trade-off Analyses (HETA). In this paper, these conditions are first established and the equivalent models are explored both analytically and graphically to better understand HETA. Further investigation in the equivalence models leads to the modification of efficiency measures and the development of a minimax reference point approach for supporting integrated performance analysis and resource planning, with the Decision Maker's (DM) preferences taken into account in an interactive fashion. Both numerical and case studies are conducted to demonstrate the proposed approach and its potential applications.