Optimization problems can be tricky, but they make the world work better. These kinds of questions, which strive for the best way of doing something, are absolutely everywhere. Your phone’s GPS ...
An optimization problem is one where you have to make the best decision (choose the best investments, minimize your company’s costs, find the class schedule with the fewest morning classes, or so on).
In large retail operations, category management teams spend significant time deciding which product goes onto which shelf and in which order. Shelf space is very expensive real estate in retail.
Strategic problem solving is a critical business skill, for both management and front-line workers. For management, a large portion of strategic problem solving involves predicting problems that ...