Operations research and management science and related Mathematical programming and modeling is not a new technology.
In fact OR can be traced back many decades, but the beginning has generally been attributed to the military service during the World War II.
By optimally distributing limited number of radar systems to cover the air, mathematical programming played a major role in the Air Battle of Britain.
The same can be said for the Battle of North Atlantic, where OR scientist had the major role in creation of optimally calculated convoy length and necessary protection (destroyers, submarines…).
Main goal of Operational Research is to optimize important business activities by applying algorithms Constrained Programming, Mixed-Integer Programming and other mathematical algorithms.
Logic behind all types of OR/Mathematical programming models is always the same.
From the limited resources on your disposal (people, trucks, budget, machines…) you want to get maximum profit by satisfying all the constraints (time, capacity, money etc.).
Some of examples of applying Mathematical programming to solve business challenges are:
- General: supply chain optimization, inventory optimization, assignment optimization…
- Retail: optimal purchasing (buying manager), item distribution, inventory optimization…
- Manufacturing: production scheduling
- Logistic: vehicle routing problems
- Insurance: risk estimation and price strategy
- Marketing: advertising campaign optimization
In today’s world, OR and mathematical programming are playing tremendous role in all companies that want to be competitive by improving efficiency of business critical tasks.
It’s difficult to find company who won’t benefit when applying OR, and there are no business process that cannot be further optimized.
With advances in all fields of Mathematical programming (new algorithms, Big Data, new solvers etc.) there are no more excuse not to start applying Mathematical programming in your company.
It is not widely known that Operational Research with it’s powerful algorithms for critical business processes optimization, is a complementary of Machine Learning and Artificial Intelligence.
How can we help?
With proven experience of developing software based on Mathematical modelling of the most important business processes that are used in production since 2000, and millions of optimization done that brings savings and increased profitability in the fields of production scheduling and supply chain optimization, you can be confident to get the best consultancy support to resolve your business challenges.
If you want to see more details about one of my software that solves Production Scheduling problem for the largest manufacturer of corrugated cardboard, deployed in production since 2000, you can use the following link: