How to conduct research using constrained optimization models
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Date
2023
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Sage Publications Ltd.
Abstract
The methods guide is based on constrained optimization models. It presents an overview of using a constrained-based optimization technique. The guide explains to the readers how they can learn and adopt constraint-based optimization methods for their respective research, starting from identifying a research problem, data gathering, model development, analysis of the constrained optimization model, and varied applications. The readers shall be able to appreciate the challenges they may encounter while selecting a problem, identifying the objective function(s), framing the constraints, and choosing an optimization technique in problem solving. This method guide explains a solution approach for a heterogeneous vehicle fleet size and mix problem subject to a set of objective functions and constraint conditions to develop the model. The researcher can use this guide to develop solutions for constraint optimization problems about different domains, namely, stock portfolio mix for maximizing returns, distribution beat plan for a vehicle minimizing the transportation cost, and product portfolio optimization for maximizing profits for a firm to name a few.
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Sarangi, S. (2023). How to conduct research using constrained optimization models. In S. Subrat. (Ed.), How-to Guides, Sage Publications Ltd. https://doi.org/10.4135/9781529668483