From Optimization Models to Policies: The Power of Parameterized Deterministic Optimization Models

If you work in operations research (O.R.), you have seen it countless times: Someone creates an optimization model (using a mixed-integer linear programming model) to solve some business problem. With the advent of powerful solvers that could handle a wide range of integer programming problems, we now have tools that can handle many practical applications. This means that we can raise our hands and exclaim, “It is optimal!”