Operations Research and Optimization

Operations Research and Optimization is a discipline within industrial engineering that employs advanced analytical methods to improve decision-making and efficiency in complex systems. It involves developing and applying mathematical models, statistical analysis, and computational algorithms to represent real-world problems, with the ultimate goal of finding the best possible solution from a set of feasible alternatives. This process of optimization seeks to systematically maximize desired outcomes like profit or performance, or minimize undesirable ones such as cost, risk, or waste, across a wide range of applications including supply chain management, logistics, financial planning, and resource allocation.