Optimization

Allocate Scarce Resources

Optimization is a powerful technique that provides organizations with the means to make the “best possible” decision for complex, real-world problems. Optimization determines the best way to allocate scarce resources while considering business objectives and resource constraints. Resources can include people, raw materials, machine time, money, or anything else in limited supply. The “best possible” or optimal solution may mean maximizing profits, minimizing costs, minimizing risks, or achieving the best possible quality.

Capabilities

Emprata’s mathematicians are well versed in the modeling and optimization of complex real-world problems. Our mathematical modeling expertise spans all major sub-fields of optimization including linear programming, mixed integer programming, non-linear programming, stochastic programming, constraint programming, multi-objective optimization, and combinatorial optimization. Emprata is skilled in the use of open-source solvers (such as SCIP and lp-solve), as well as commercial solvers (including CPLEX and Gurobi).

Optimization enables organizations to:

• Build a replica of a real-world systems on which to experiment
• Balance competing objectives/interests subject to limited resources
• Narrow choices to the very best when there are virtually innumerable feasible options and comparing them is difficult
• Provide a systematic, quantitative way to evaluate and make decisions
• Uncover solutions to tough challenges by exploring alternatives in a matter of minutes
• Determine solutions that ultimately minimize costs, manage risks, and maximize profits

Applications of mathematical optimization include:

• Minimizing travel distances in transportation networks
• Maximizing pharmaceutical yield
• Improving advertising sales plans
• Scheduling constrained resources
• Optimizing supply chains

Asset Management Optimization

Government regulations and policies are used to effectively manage the abundant natural and government resources across industries. Due to technical, scientific, and dynamic demographic changes in those industries, the current regulations and policies require further consideration. Government agencies must periodically evaluate, model, and optimize their policies in order to efficiently manage their assets.

At Emprata, we understand how critical it is for government agencies to manage assets through policy. Performing these tasks in an effective and efficient manner will provide benefits to industry, the public, and will enable future conservation of those assets. Our team employs the following methodology to optimize how assets are managed:

Data Warehousing / Cleansing
Our team extracts and stores the policy and regulation related data. We then perform cleansing activities to eliminate redundancies, standardize, and identify incomplete, incorrect or improperly formatted data

Data and Policy Analysis
In collaboration with subject experts (i.e., policy makers, lawyers, chemists, engineers, economists) we review, analyze, and assess the policies related to asset management

Develop and Validate Model
Our team develops mathematical models simulating the current system. We then quantify the efficiency and effectiveness of the models based on industry and public interests, and iterate as needed.

Identify Optimal Solution
An optimal model to manage resources is identified. This model can be used to measure the quality and benefits of resource policies and services.