Patent ID: 7761317

Claim:
A computer implemented system programmed to execute instructions for optimizing a selection process comprising: a memory device; and a processor configured for: determining product requirements according to a production function; composing a plurality of ensembles each composed of products of inputs provided from at least one supplier with product prices for calculation of costs, each input having a value, said inputs selected from a group consisting of components, goods, and supplies or a combination thereof; placing said plurality of ensembles in an electronic file; determining a Lagrangian function for each ensemble from said plurality of ensembles; minimizing each said Lagrangian function subject to constraints of said production function and solving for the values of inputs for each ensemble; computing a first utility score related to cost of the ensemble for ranking ensembles based on solved values of inputs; weighting ensembles according to a first set of criteria selected from technical performance factors relating to said inputs and management factors relating to said inputs; computing a second utility score for ranking ensembles weighted according to the first set of criteria; weighting each utility score according to predefined values; calculating the sum of weighted utility scores associated with a particular ensemble; and selecting an ensemble according to the highest weighted utility score sum.