Abstract
In this chapter we shall consider applications of mathematical programming arising in various contexts. We shall examine the problem faced by the client, the model built, and the use to which it would be put. Problems will be ones that require financial modeling, modeling of the closing and opening of facilities, modeling across time periods, discounting over time, using opening and closing balances, and using hard and soft constraints in model development. Each case will demonstrate the need for a model of a particular type. A formulation of each model is provided in MCOL, so that the reader may solve the problem and investigate the results. In some cases it will be possible to formulate the problem in several contrasting ways. Some of the benefits of the alternative formulations will be discussed. In the second half of the chapter the focus will be on difficulties that commonly arise when we try to run models and solve problems. We discuss how to get around infeasibilities and illuminate certain aspects of sensitivity analysis.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
The expression \(\left \lfloor x\right \rfloor \) means return the largest integer number not exceeding x. If x is a positive number, then \( \left \lfloor x\right \rfloor \) yields the integral part of x, i.e. , \(\left \lfloor 4.5\right \rfloor =4.\)
- 2.
An IIS facility is available, for instance, cplex or xpress-optimizer .
References
Glen, J.J.: Sustainable yield analysis in a multicohort single-species fishery: a mathematical programming approach. J. Oper. Res. Soc. 46, 1052–1062 (1995)
Greenberg, H.J.: How to analyse the results of linear programs - Part 3: infeasibility. Interfaces 23(6), 120–139 (1993)
Hendry, L.C., Fok, K.K., Shek, K.W.: A cutting stock and scheduling problem in the copper industry. J. Oper. Res. Soc. 47, 38–47 (1996)
Laporte, G., Nickel, S., Saldanha da Gama, F.: Location Science. Springer, Cham (2015)
Williams, H.P.: The Dual of a Logical Linear Programme. Research paper, Mathematical Sciences, University of Southampton, Southhampton (1995)
Zenios, S.A. (ed.): Financial Optimization. Cambridge University Press, Cambridge (1993)
Author information
Authors and Affiliations
8.1 Electronic Supplementary Material
Rights and permissions
Copyright information
© 2021 Springer Nature Switzerland AG
About this chapter
Cite this chapter
Kallrath, J. (2021). Case Studies and Problem Formulations. In: Business Optimization Using Mathematical Programming. International Series in Operations Research & Management Science, vol 307. Springer, Cham. https://doi.org/10.1007/978-3-030-73237-0_8
Download citation
DOI: https://doi.org/10.1007/978-3-030-73237-0_8
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-73236-3
Online ISBN: 978-3-030-73237-0
eBook Packages: Business and ManagementBusiness and Management (R0)