Optimization models and methods play an increasingly important role in decision making. Many problems in finance, marketing, logistics and supply chain management are now routinely and efficiently solved using modern optimization techniques. Optimization models allow management to structure a problem, identify and evaluate its determinants and solution options, and select the best solution. Luckily MS-Excel has, and other PC-based spreadsheet have in-built optimizers that enable linear, non-linear and integer programmes to be solved within the spreadsheet.
This course is primarily designed to build participants capacity to effectively optimize their decisions of varying business problems. In general good handle on optimization models allow highly complex and large-scale problems to be tackled successfully with the best results. The optimization processes most often used involve linear and integer programming formulations (LP, IP) as well as goal programming.