Discuss where heuristic decision making might be better than using Optimization. What are the benefits v costs?

Consider how you would make the quarterly ordering decision without using optimization techniques. This is called heuristic decision making – meaning it is an approximation.

Discuss where heuristic decision making might be better than using Optimization. What are the benefits v costs? In other words, when is it not cost effective to spend the additional time and money to obtain the Optimum solution?

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