When is it not cost effective to spend the additional time and money to obtain the Optimum solution?

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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