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Applying Fuzzy Logic For New Product Portfolio Selection

International Journal of Applied Management (ISSN: 1742-2590) Volume 2 Issue 1

Dr. Chun-Chu, Liu
Associate Professor, Department of International Business
Chang Jung Christian University, Taiwan, R.O.C.

Abstract

Due to limited resources, companies require to strategically allocate resources to a set of projects involving new products. A portfolio management decision is usually made on the basis of product value, project risk and business strategies. Due to both the nature and timing of new product development, portfolio selection is associated with uncertainty and complexity, and conventional evaluation methods cannot handle such decisions suitably and effectively. However, fuzzy logic is well suited for decision making with uncertainty. Thus, a method for portfolio selection decision using fuzzy logic is proposed. As an illustration, a new IT product portfolio selection in Taiwan’s company is cited to demonstrate the evaluation procedure that can be used in new product portfolio.

Keywords : New product portfolio management ; New product selection; Linguistic multi-criteria decision

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