Optimization of Systems

Abstract

Optimization is defined as the mathematical procedures involved in effecting optimality. It is also a collection of mathematical principles and methods used for solving quantitative problems in many disciplines. In business, optimization is finding an alternative with the most cost effective or highest achievable performance under given constraints by maximizing desired factors and minimizing undesired ones. The purpose of optimization is therefore to achieve the best design relative to a set of prioritized criteria or constraints which include maximizing factors such as productivity, strength, reliability, longevity, efficiency and utilization. Mathematical model attempts to optimize (maximize or minimize) an objective function without violating resource constraints. Various optimization techniques are used to achieve optimality of systems. The objective of the paper is to employed appropriate optimization techniques in worked examples to achieve optimality of systems.