Designing & Implementing Multi-Model Optimization Planning Models
by LINDO Systems
INFORMS Baltimore Pre-Conference Workshop
Sunday, 13 April 2008, 3pm - 6pm
LINDO Systems will be hosting a three hour workshop on large-scale optimization at the upcoming INFORMS Practice conference in Baltimore. This workshop is open, at no charge, to all conference attendees.
The Problem:
For many planning applications, you need to solve two or more related models in order to produce a plan. This workshop will describe the half-dozen general settings in which this occurs and give specific examples for each setting. Many users are comfortable with creating a single model but are challenged when trying to coordinate several models. We will show how to do this in general, with specific illustrations using the latest features in LINGO and What’sBest!.
What you will learn:
How to do efficient frontier analysis for the two criteria case.
This requires repeated parametric solution of a model.
Example: Financial portfolio design in insurance and other industries,
Pitfalls when there are integer variables.
Scenario generation when there are more than two criteria, or uncertainty
Example: Sales territory design, with criteria of equal profitability, workload, compactness, homogeneity, etc. within territory.
Generating the K best solutions.
How to do simple scenario planning under uncertainty.
Choosing a unique optimum that is acceptable to all players when there are alternate optima.
Example: In an auction for transmission line capacity, who gets what at what prices when there are alternate optima for either or both the allocations and the prices.
Choosing a unique satisfactory optimum may require solving several secondary optimizations.
Proposal/Column Generation Methods. Solve a Subproblem to generate proposals. Solve a different Master problem to choose among the proposals.
Example: Cutting stock in the metal forming industry.
Pitfalls: How to avoid generating uninteresting proposals.
How to handle secondary objectives.
Row/Cut Generation Methods
Example: Solving routing/TSP-like problems using cuts to eliminate infeasible trips/tours.
Pitfalls: Dramatic effect of generating only “smart” cuts.
Software covered:
Attendees of the workshop will learn large scale optimization modeling using the following software packages:
LINGO -- An efficient modeling language and interactive environment with extensive programming and output formatting capabilities.
What'sBest -- A powerful reliable add-in for large scale modeling within Excel spreadsheets.
LINDO API -- For custom applications, a fast, reliable, large scale comprehensive optimizer engine with a single interface for all problem types: LP, QP, NLP, IP, Global.
Free Software Drawing
All attendees of the workshop will be entered into a drawing to win a single user license of Hyper LINGO, Professional What'sBest or Hyper LINDO API. The drawing will be held during the workshop.
Register Now for a Free LINGO Modeling Text
Register for the workshop by April 1st and receive a free copy of Optimization Modeling with LINGO. This modeling text by Linus Schrage can help you to become a better modeler. It is a comprehensive guide to applying the power of optimization to problems of business, industry and government.
Presented by: Dr. Linus E. Schrage, co-founder and President of LINDO Systems and Professor of Operations Research and Operations Management Emeritus at the University of Chicago. He has been a pioneer in the development of software tools for building and solving optimization models. In 1977, he developed the linear programming software package LINDO that became the first LP software for the PC and one of the most widely used LP packages in the world. With Kevin Cunningham, he was instrumental in the development of What'sBest, the first spreadsheet solver, as well as LINGO and GINO, the first nonlinear solver for the PC. He has authored and co-authored numerous papers and written several books including Optimization Modeling with LINDO; Optimization Modeling with LINGO; and LINDO: an Optimization Modeling System; A Guide to Simulation.
For registration:
Online Registration: Register Here
Phone: 312.988.7422
Fax: 312.988.9065
