Applications Of Fuzzy Logic In Decision Making And Management Science
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Fuzzy Logic in Management
This book shows how the application of fuzzy logic can benefit management, group decision making, strategic planning, supply chain management and other business imperatives. The theoretical analysis is fully supported by real-life case studies. The book develops themes that businesses can use to master effectiveness and quality, work with flexibility, and support continuous learning in the organization and the individual.
Fuzzy Logic for Business, Finance, and Management
This is truly an interdisciplinary book for knowledge workers in business, finance, management and socio-economic sciences based on fuzzy logic. It serves as a guide to and techniques for forecasting, decision making and evaluations in an environment involving uncertainty, vagueness, impression and subjectivity. Traditional modeling techniques, contrary to fuzzy logic, do not capture the nature of complex systems especially when humans are involved. Fuzzy logic uses human experience and judgement to facilitate plausible reasoning in order to reach a conclusion. Emphasis is on applications presented in the 27 case studies including Time Forecasting for Project Management, New Product Pricing, and Control of a Parasit-Pest System.
Fuzzy Sets, Fuzzy Logic, Applications
Fuzzy sets and fuzzy logic are powerful mathematical tools for modeling and controlling uncertain systems in industry, humanity, and nature; they are facilitators for approximate reasoning in decision making in the absence of complete and precise information. Their role is significant when applied to complex phenomena not easily described by traditional mathematics.The unique feature of the book is twofold: 1) It is the first introductory course (with examples and exercises) which brings in a systematic way fuzzy sets and fuzzy logic into the educational university and college system. 2) It is designed to serve as a basic text for introducing engineers and scientists from various fields to the theory of fuzzy sets and fuzzy logic, thus enabling them to initiate projects and make applications.