Consider some of the examples you have brought up in earlier topics. Describe the key differences between simulation models and the models covered earlier in the course. Outline how the approach to solving this problem would differ in terms of applying and computing/solving the models. Decision tree, Linear optimization, simple regression, multiple regression etc.

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In the business world, we do have what is recognized as the linearoptimization. The term linear optimization which is also known aslinear programming refers to the process of maximizing or minimizing alinear function with the sole intention of finding the optimum value(maximum or minimum) as far as linear and non-negative constraints areconcerned. In other words, this method is a relatively simpletechnique that is highly used to find realistic solutions for a widerange of optimization problems. In the following paragraphs, we shalltalk about workforce scheduling, blending as well as a logisticproblem facing my current organization, the things that are beingoptimized in each and other things revolving around this area.

In the organization of Glanbia Nutritionals, there has beenworkforce scheduling especially in the departments of Warehouse,Quality, and Production. When it comes to the summer months, theyrealize that the Production and Warehouse departments work on a fullcycle that is, three shifts but in the area to do with Qualitydepartment, there is only two shift year round. Efficiency is usuallylow in the summer months in the Production and Warehouse as theproduct cannot be checked during the third shift. Over time, theorganization’s manager has noticed that the third shift is bestused in cleaning the mixers as well as running the big batches ofMonster because they took up the entire or whole shift. This hasallowed for more products to be mixed and blended. The GlanbiaNutritionals is very much concerned with the classic problem based onblending or mixing its ingredients in order to obtain a satisfyingproduct. The organization has also identified another problem thatrevolves around the transportation of its nutrition ingredients to thevarious destinations. This is due to the increased delays in deliveryhence a big logistics problem. Working on the workforce scheduling isthe means through which efficiency is optimized by dealing properlywith negative operational outcomes. Focusing on the blending problemhelps the organization to maximize the health benefits of proteinsupplementation by optimizing the value of its products. Logisticsoptimization has turned out as a significant component for GlanbiaNutritionals for it improves the business efficiency by minimizing cost.

In the decision tree analysis, there is a schematic representationof several decisions and alongside this are the different chances ofoccurrence. In other words, a tree-shaped graphical representation ofdecisions that are connected or related to the investment as well asthe chance points that aid in investigating the possible outcome iswhat is being referred to decision tree analysis. On the other hand,linear optimization techniques are different as we use them to depictcomplex relationship through the use of linear functions then finallygetting the optimum points. With the kind of problems being faced bymy organization, linear optimization will work best (Kuester, &Mize, 1973). It will ensure that strategies are put in place thatwill help the team or employees work efficiently for on-time delivery.With the aid of the linear optimization techniques, the organizationwould be in the position to see clearly how to blend its ingredient torealize the best quality as it maximizes the profit. This is differentfrom the decision tree analysis that offers several options.

It is very evident that for any organization to prosper and see thatthe day to day activities are done in the right manner, essentialdecisions ought to be made. Linear optimization is a great area thatwe cannot afford to ignore because it helps a lot in making importantdecisions hence solving a lot of problems encountered.

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Strategic decisions are mostly decisions that willaffect the company over an extended period. Senior management makesthem then they address the same with their team and ensure that theyare made aware of the strategy to feel part of the plan. Our companymanagement came up with a decision to increase employee turnover andbecome the market leader in the retail market for fresh vegetableproduce. They did research and came up with a reward strategy thatwould reward the top performing employees. They also decided toincrease our distribution channels. The company could have useddifferent optimization models such as linear programming which wouldhave helped to take into consideration the total cost that would beincurred by the expected promotions and what it would cost to comeup with a reward scheme (Plastria, 2001).The long program if usedwould have reduced the cost by calculating the values of possibleoutcomes and then calculating the price to come up with the bestsolution (Pardalos, 2002). Optimization models can give an insightinto granular information about the operations of the company, howto actualize the plan within a short span and optimization of their decision

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The business world is very dynamic surrounded by many uncertainties.Every forecast/ decision the management makes has to be carefullyevaluated to determine its potential benefit or risk to the business.Since forecasts direct future planning, budgeting and businessactivities (Brooks, 2015), wrong predictions may cripple businessto the point of no return.

My previous organization was a dairy plant that depended on its ownraw materials to produce its dairy products. According to themanagement, this was a cheaper option to sourcing from differentsuppliers. However, they did not account for possible health threatsin the livestock industry. The company operated on the basis that theyfumigated their animals thoroughly and did not expect disease attacks.As a result, the outbreak of bovine spongiform encephalopathy (mad cowdisease) hit hard on the institution. Most of the animals got infectedleading to a low supply of raw materials that did not match the normalmarket demand. The company was forced to outsource raw materialswithout a proper plan leading to huge expenses that were notcompensated in the revenues. More so, several cattle died impacting aloss in assets.

In response, the management decided to construct an annual lossbudget to compensate for emergencies as well as monitor potentiallivestock disease-outbreaks all year round. While the management hadappropriate strategies, I would also encourage them to consideroutsourcing some raw material to create a diversified supply to standin during emergencies and enable business continuation