OIE 4420 - Practical Optimization: Methods And Applications

Cat. I This course covers the use of practical computational methods to solve constrained optimization problems from industry. Optimization theory and algorithms related to linear and integer programming will be discussed, with primary emphasis placed upon computationally solving applications in the industrial, operational, manufacturing, and service sectors. Both proprietary and open-source optimization software will be used, including spreadsheet solvers (e.g., Excel Solver, OpenSolver), industrial-strength optimization packages (e.g., CPLEX, GUROBI), and other interfaces (e.g., AMPL, OPL, GMPL). Students will be expected to model problems and interpret their results; where applicable, sensitivity analysis, duality and additional techniques will be utilized to gain managerial insight from developed models and solutions. Cases from industries such as health care, supply chain management, financial services and analytics will be used for illustrations, discussions, and exercises. Recommended background: Familiarity with some basic linear programming (BUS 2080, MA 2210, MA 3231, or equivalent)
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Fall 2019, Fall 2018, Fall 2017
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