Optimization Techniques Day 1 KPJ - Copy.pptx

Optimization Techniques Day 1 KPJ - Copy.pptx -...

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Optimization Techniques Kedar P Joshi
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Revised business analytics framework o A simple BA framework captures the union of o Statistics o Quantitative methods (both Operations research & Operations management) o Management Information Systems Source. Klimberg and Miori (2010)
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Range & types of analytics BA sophistication grows with the degrees of intelligence of the methodologies employed and directly affects a company’s competitive advantage Source. Davenport TH, Harris JG (2007) Competing on Analytics (Harvard Business School Press, Boston), Figures 1–2.
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Telecom Rollout
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Project Overview USD 1 Billion dollar project Phase 1: Target 10,000 transmitters Project timeline 6 months Limited resources who understood CDMA technology Multiple moving parts Location to set-up transmitters Type of transmitter to be set-up Construction of Optical Backbone Construction of telecom towers, shelter for transmitters, backup power supply Connectivity to the Mumbai HO
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Business Consideration and Optimization How many vendors? How many BTS’s, Repeaters and Power Supply? How many accessories – cables, nuts and bolts? How to optimize cost? Procurement cost Set-up cost Transportation cost How to optimize timelines? Delivery timelines Transportation of equipment across India How to optimize resources? Setting up telecom towers Installing antennas Operationalizing transmitters How to optimize replacement?
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What is Optimization? Optimization means maximization or minimization of one or more objective within possible constraints Examples of Business Objectives - Maximize profitability - Minimize cost - Minimize labor hours - Maximize Productivity Examples of Constraints - Total hours worked in a plant cannot exceed 10 hrs/day - Number of workers in plant cannot exceed 200 - Minimum quantity manufactured should be at least 100 units - Budget should not exceed 200 million
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Classical Optimizatio n Techniques The classical optimization techniques are useful in finding the optimum solution or unconstrained maxima or minima of continuous and differentiable functions These are analytical methods and make use of differential calculus in locating the optimum solution The classical methods have limited scope in practical applications as some of them involve objective functions which are not continuous and/or differentiable
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Classical Optimizatio n Techniques Three main types of problems can be handled by the classical optimization techniques: Single variable functions Multivariable functions with no constraints Multivariable functions with both equality and inequality constraints
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Prescriptive analytics (PA) Uses optimization to identify the best alternatives to minimize or maximize some objective .
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  • Fall '18
  • Sridhar Telidevara
  • Optimization, optimal solution

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