Lean and Six Sigma methodologies play an important role in the quality and cost driven world with high competition. In this paper, we develop a unique decision support system that utilizes a multi-objective formulation for project portfolio selection problem in manufacturing companies. The model can be used to effectively implement Lean and Six Sigma concepts. An industrial case study that utilizes this model for implementing the Lean and Six Sigma initiatives is also presented.
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Hu et al. (2008) studied this question.
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