International Journal of Industrial Engineering and Management

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Vol. 6 No. 1 (2015)
Original Research Article

A Model for Ranking and Optimization of Key Performance Indicators of the Strategy Process

Marija Gacic
University of Kragujevac
Bio
Snezana Nestic
Faculty of Engineering, University of Kragujevac
Bio
Marija Djordjevic Zahar
Faculty of Engineering, University of Kragujevac
Bio
Miladin Stefanovic
Faculty of Engineering, University of Kragujevac
Bio

Published 2015-03-30

abstract views: 45 // FULL TEXT ARTICLE (PDF): 0


Keywords

  • strategy process,
  • quality management,
  • fuzzy sets,
  • genetic algorithm,
  • indicators

How to Cite

Gacic, M., Nestic, S., Djordjevic Zahar, M., & Stefanovic, M. (2015). A Model for Ranking and Optimization of Key Performance Indicators of the Strategy Process. International Journal of Industrial Engineering and Management, 6(1), 7–14. https://doi.org/10.24867/IJIEM-2015-1-102

Abstract

Small and medium sized companies are faced with a series of challenges in order to improve the qualityof their key business processes. Quality management system and the requirements of ISO 9001:2008 are usually reliable when defining the key performance indicators of processes, and the process approach enables monitoring of the process indicators’ effectiveness for the whole organization. Evaluation, monitoring and ranking of key performance indicators can provide quality improvement of strategy process performance in different SMEs. A model based on genetic algorithms has been developed in order to rank key performance indicators of the strategy process. This model can have a great practical use for a company’s management team in the quality assessment of strategy process performance in their company.

 

Article history: Received (01.09.2014.); Revised (29.01.2015.); Accepted (27.02.2015.)  

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