Optimization Strategies for Supply Chain Design

Revision sheet excerpt

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

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Quiz preview

1. What best describes optimization in mathematical decision making?

2. What is the primary goal of optimization in supply chain and beyond?

3. Which statement best illustrates predictive analytics as used in optimization?

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Flashcards preview

Optimization — scope?

Applied in supply chain and beyond.

Optimization Label

Search for the best solution with constraints.

Decision-making framework — purpose?

Supports structured, validated decisions using models.

Predictive analytics input

Forecasts used in optimization models.

Linear programming

Optimization with linear objective and constraints.

Integer programming

Optimization where some variables are integers.

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The revision sheet covers the essential concepts of Optimization Strategies for Supply Chain Design. It is organized by topic to facilitate learning and memorization, with key definitions, explanations and summaries.

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The quiz contains 11 multiple-choice questions with detailed corrections and explanations for each answer. Ideal for testing your knowledge and identifying gaps.

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