Supply Chain Glossary - O

Supply Chain Glossary - O

objective function

The goal or function that is to be optimized in a model. Most often it is a cost function that should be minimized subject to some restrictions or a profit function that should be maximized subject to some restrictions.

Within computer programming, the use of coding techniques and tools that reflect the concept of viewing the business environment as a set of elements (or objects) with associated properties, e.g., data, data manipulation/actions, inheritance. The objects encapsulate, through data and functions, the properties of the business that are of interest.


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