One more thing about...
Heuristics
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Sometimes optimization specialists combine different existing techniques to tackle a new type of problem. This is the case for flow network analysis and the facility location problem by combining them to flow location networks. Let’s see how that works and what can be solved this way.
Inventory management always seems to be trade-off between reliable production and low stock levels. By using mathematical optimization, you can have both at the same time.
Simulation and optimization are two terms that are often used almost synonymously. Yet they are two fundamentally different techniques. Our new episode “One more thing about…” explains the difference.
