Abstract: Owing the fact that optimization of business process
is a crucial requirement to navigate, survive and even thrive in
today-s volatile business environment, this paper presents a
framework for selecting a best-fit optimization package for solving
complex business problems. Complexity level of the problem and/or
using incorrect optimization software can lead to biased solutions of
the optimization problem. Accordingly, the proposed framework
identifies a number of relevant factors (e.g. decision variables,
objective functions, and modeling approach) to be considered during
the evaluation and selection process. Application domain, problem
specifications, and available accredited optimization approaches are
also to be regarded. A recommendation of one or two optimization
software is the output of the framework which is believed to provide
the best results of the underlying problem. In addition to a set of
guidelines and recommendations on how managers can conduct an
effective optimization exercise is discussed.