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17 May 2022 The simplex method to optimize food supply
Xiaoyi Ji, Shiyi Lyu
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Proceedings Volume 12259, 2nd International Conference on Applied Mathematics, Modelling, and Intelligent Computing (CAMMIC 2022); 122594E (2022) https://doi.org/10.1117/12.2639593
Event: 2nd International Conference on Applied Mathematics, Modelling, and Intelligent Computing, 2022, Kunming, China
Abstract
The simplex method and mean-variance method are two popular method of linear programming that have been wildly used in many area. They are extensively used to solve optimization problems with certain constraints. In this paper, we will present how to use these two methods together to solve a real business problem more comprehensively. As a company, saving cost and earning profit are always the most important aspects that the company holder would consider. So the first part of this paper will introduce how to understand the mean-variance method and to apply it in money allocation. To find the best way of allocating the asset, we consider minimizing the risk which will be achieved by minimizing the covariance and to maximize the return which will be achieved by maximizing the mean. And in the second part, this paper will present detailed explained simplex method as well as its application in finding the optimized strategy for the company. The multiobjective function will be minimizing the cost and maximizing the profit. The company is located in a small town with 12,000 population, and they are the main grain distributor in this town. In the following year, they would like to invest $1,100,000 and we will use our model to help them find the best solution.
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Xiaoyi Ji and Shiyi Lyu "The simplex method to optimize food supply", Proc. SPIE 12259, 2nd International Conference on Applied Mathematics, Modelling, and Intelligent Computing (CAMMIC 2022), 122594E (17 May 2022); https://doi.org/10.1117/12.2639593
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KEYWORDS
Computer programming
Proteins
Distribution
Mathematics
Standards development
Image segmentation
Optimization (mathematics)
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