Optimization Strategies for Supply Chain Design

📋 Course Outline

1. Optimization in supply chain and beyond
2. Model-based decision-making support framework
3. Linear programming structure and optimality
4. Linear programming modeling steps and key issues
5. Linear programming solution approach with Excel Solver
6. Knapsack problem as an integer programming example
7. Supplier selection and multi-supplier constraints
8. Network design with opening and transportation costs

📖 1. Optimization in supply chain and beyond

🔑 Key Concepts & Definitions

• Optimization : Optimization is the search for the best possible solution given a defined objective and constraints.
• Predictive analytics inputs : Predictive analytics provide forecasts that become model inputs for optimization decisions.
• Linear programming : Linear programming is an optimization framework where the objective and constraints are linear functions of decision variables.
• Integer programming : Integer programming is optimization where some decision variables must take integer values.

📝 Essential Points