In this course, students will learn how to use mathematical modelling to support practical business management decisions. The course will give an introduction to the use of the most common modelling techniques for deterministic optimisation, such as linear programming (LP), integer programming (IP), mixed-integer programming (MIP) and nonlinear programming (NLP). Applications of these methods in logistics/operations, strategy, marketing, and finance will be demonstrated through exercises, using state-of-the-art software.
- The concept of a mathematical programming model
- Linear programming models and the importance of linearity
- How to interpret model output
- Multi-period planning models
- Integer and mixed-integer models
- Good and bad formulations
- Non-linear models
- Multi-objective models
- Practical aspects of optimization
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.