A strategic decision model for the selection of advanced technology

Abstract

This paper introduces models for the selection of advanced technologies. It is based on the concept that technologies are mutually dependent. As such, higher productivity could be realized by simultaneously selecting dependent technologies. Synergistic benefits are realized if such technologies are selected. This paper, therefore, uses the analytic hierarchy process (AHP) and an adjusted priority method to evaluate and rank technologies. A greedy heuristic algorithm is then used to allocate resources to the different technologies.