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Handbook of Metaheuristics: Applications in Operations Research and Management

Chuck Mitchell

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Published in Handbook Of Metaheuristics (International In Operations Research Management Science 272)

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Handbook of Metaheuristics (International in Operations Research Management Science 272)

Handbook of Metaheuristics (International Series in Operations Research & Management Science 272)

by Spencer Earl Watts

5 out of 5

Language	:	English
File size	:	31270 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	1130 pages
Screen Reader	:	Supported

This handbook provides a comprehensive overview of metaheuristics, their applications in operations research and management, and their potential for solving complex real-world problems.

What are Metaheuristics?

Metaheuristics are a class of optimization algorithms that are used to solve complex problems that cannot be solved using traditional mathematical methods. They are inspired by nature, and they work by iteratively improving a candidate solution until a satisfactory solution is found.

Applications of Metaheuristics in Operations Research and Management

Metaheuristics have been successfully applied to a wide range of problems in operations research and management, including:

Scheduling
Routing
Vehicle routing
Supply chain management
Inventory management
Facility location
Production planning
Financial planning
Marketing
Healthcare

Benefits of Using Metaheuristics

Metaheuristics offer a number of benefits over traditional mathematical methods, including:

They can be used to solve complex problems that cannot be solved using traditional methods.
They are relatively easy to implement.
They are computationally efficient.
They can be used to find high-quality solutions.

Challenges of Using Metaheuristics

Despite their benefits, metaheuristics also have some challenges, including:

They can be difficult to tune.
They can be sensitive to the initial solution.
They can be slow to converge.

Future of Metaheuristics

Metaheuristics are a rapidly growing field of research, and new algorithms are being developed all the time. As metaheuristics continue to improve, they are likely to become even more widely used in operations research and management.

Metaheuristics are a powerful tool for solving complex real-world problems. They offer a number of benefits over traditional mathematical methods, and they are likely to become even more widely used in the future.

Handbook of Metaheuristics (International Series in Operations Research & Management Science 272)

by Spencer Earl Watts

5 out of 5