O'Reilly logo

Operations Management: An Integrated Approach, 5th Edition by Nada R. Sanders, R. Dan Reid

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

INTRODUCTION

imagesObjective

The quantity to be maximized or minimized.

imagesConstraints

Limitations or requirements that must be satisfied.

imagesDecision variables

Quantities under the control of the decision maker.

imagesConstrained optimization problem

A mathematical model in which one is trying to maximize or minimize some quantity, while satisfying a set of constraints.

This chapter provides an introduction to optimization models and solution approaches. Optimization is a major field within the discipline of management science. The emphasis is on developing appropriate mathematical models to describe situations, implementing these models in a spreadsheet, using a spreadsheet-based solver to solve the optimization problems, and using human intelligence and judgment to interpret the results. We emphasize a particular type of optimization problem, called linear programming problems (or linear optimization). In linear programming (LP) problems, all of the relationships among the variables are linear.

Think briefly about the allocation of study time mentioned in the opening paragraphs. In an optimization mindset, ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required