MIP (Mixed-Integer Programming)

Mixed-Integer Programming (MIP) is a mathematical optimization technique used to find the best solution among many options. It involves decision variables that can be continuous (any value) or integer (whole numbers). MIP models problems like scheduling, resource allocation, or planning by defining an objective (e.g., minimize costs or maximize efficiency) and constraints (limitations or requirements). Advanced algorithms solve these complex problems efficiently, ensuring the solutions adhere to all rules while optimizing the desired outcome. It’s widely used in industries such as manufacturing, logistics, finance, and energy for making optimal decisions under given conditions.