Model Building Tools

1
Model Building Tools

• Recognize a Problem
• Establish Evaluation Criteria
• Identify alternative course of action
• Evaluate alternatives
• Select the best alternative
• Implement this choice

2
Model Building Tools

• Advantages of Model approach
• Easy to understand
• Modification cheap and quick
• Less risk in experimentation

3
Model Building Tools
4
Model Building Tools
The Decision Making Environment
5
Model Building Tools

• LP
• GP
• NLP
• IP
• Product-Mix Problems
• Transportation Problems

6
Model Building Tools
Example of IP
7
Model Building Tools