Optimization of Production Planning in Complex Economic Systems

Abstract

This research study delves into the realm of economic optimization using numerical techniques and mathematical modelling. With a focus on addressing complex challenges in production planning and supply chain optimization, this paper employs a combination of real-world case studies and mathematical calculations to demonstrate the practical application and effectiveness of numerical optimization methods. Through two case studies – one optimizing production planning in a manufacturing plant and the other optimizing supply chain operations – the study showcases how numerical optimization techniques can minimize costs, enhance efficiency, and inform strategic decision-making in intricate economic systems. The results and insights gained from these case studies underscore the power of numerical optimization techniques in tackling real-world economic challenges, while the scope for future research points towards advanced algorithms and dynamic scenarios. Overall, this study contributes to advancing economic theory and practical decision-making through the lens of optimization.