
Welcome to Report 4
Optimization Models
Our Experience
Optimization modeling is a fascinating topic to learn. When we first started learning how it is used and solved, we were reminded of the decisions we made with our short-term businesses in the past without making any analysis. We were merely guessing how many products we had to make without even aiming to get the highest profit. Even in making purchases as consumers, we failed to consider how to best minimize the cost. Now that we have discovered that optimization modeling gives that possibility, we have gotten even more excited to use it in more real-life situations.
For our last report, we chose a problem that relates to our current situation. Since the pandemic started, many people gained more interest in beautifying their homes and making it a livable and comfortable space that is conducive for school and work. That includes setting the ambience of the house with the use of scent. One of the products used for that is scented candle that come in nature-inspired, hotel-inspired, or café-inspired scents, whichever one prefers. It also comes in different sizes. As a result, many small scented-candle businesses were opened within a short span of time. We then took note of some of the factors and constraints they needed to consider before opening their store and solved the problem through modeling.
Since the type of optimization model we chose for our problem, integer linear programming, was not thoroughly discussed, we made use of other supplementary resources online to learn the approach we planned to use which is Branch and Bound method. The process was relatively easy to follow, and we found it enjoyable to learn more lessons outside what was introduced to us. Overall, what pushed us to take extra steps in learning is the enthusiasm we have more mathematical modeling.