Mathematical optimization was just ‘invented’ in the 1940’s but has come a long way since then. New techniques and larger computer processing capabilities have made possible to implement optimization in virtually all industries and problems. In summary, if you can establish the characteristics of any process, then you can optimize it based in important variables and the restrictions under which operates.
Inside our Optimization toolbox, we can find for example:
- Linear programming
- Mixed-integer programming
- Heuristics and algorithm design
- Combinatorial optimization
- Among others