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Experimental optimization

Supply chain flashcard on Experimental optimization. Experimental optimization is a method used to identify and refine improvement criteria for a numerical recipe, especially when this information is unclear or unjustified from an ROI perspective. It involves iterative experimentation to challenge and refine the criteria, ensuring decisions are beneficial from a financial perspective. Ultimately, it leads to improved supply chain decision-making in real-world settings. The image reproduces Thomas Edison’s laboratory in New Jersey. The bottom caption reads, 'Experimental Optimization 101: write and run your numerical recipe, identify insane decisions, improve the recipe, and run it again.'

Artist: Marina Besfamilnaya

Learn more about Experimental optimization from Lokad’s Glossary.