Into the Unknown
In many cases, we need to deal with nonlinear situations, e.g.: product pricing decision, inventory, portfolio optimization. Above all, the purpose is to find a balance between tradeoffs. Usually non-linear programs are more general than the linear programs. Formulating non-linear program is usually easy because you rarely use weird constraints; but its optimization would be…
Integer programming is generally from linear programming but allowing you to have integer variables, which means you may restrict the values of your variables to be integers. There are some problems linear programming is not suitable but integer programming can be helpful, for example: setup cost / time, facility location, machine scheduling, vehicle routing. All…
Almost all of problems that Linear Programming is able to solve is about resource allocation, for example: product mix, production, inventory, scheduling, etc. You have limited resource, and so many things to do. So that you have decision-making problems. Linear program is a special type of mathematical program with some special properties. Mathematical Programs Basically,…
Motivations Management is the attainment of organizational goals in an effective and efficient manners through planning, organizing, leading, and controlling organizational resources. Daft R. L. (2014) Management When you run a company or an organization, you want to do something, that is your goal, but you have limited resources, you want to assign or allocate…