Question: You need to set up a mathematical optimization model Assume
You need to set up a mathematical optimization model. Assume you are modeling a supply chain for a business with ten warehouses and 1,000 customers. If you set up the model to minimize cost, set the decision variables to decide which warehouse should serve which customers, and set up no constraints, why would you expect the minimal cost to come back as $0?
Relevant QuestionsYou are helping a firm determine their future transportation costs between their plant in Dallas and their warehouse in Atlanta. Your best estimate, with the data you have, is that the cost will be between $1.70 and $1.80 ...Name a reason why minimizing weighted-average distance is more important than maximizing the percentage of customers within a certain distance. Now, name a reason why maximizing the percentage of customers within a certain ...In the mathematical formulation, why can Y be a continuous linear variable and still give a legitimate solution? (For example, what does a Y value of 0.45 mean?) You can access and download the model as well as detailed instructions for further analysis within the Chen’s End of Chapter Questions.zip file on the book web site. You will be asked to create and review Chen’s ...In the formulation of the optimization problem, we are assuming that a customer receives many shipments per year. Assume that we are working on a model for a company that makes 25,000 shipments per year. If we model each ...
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