History

The General Agreement of Tariffs and Trade (GATT) was created in 1947 in an effort to foster international trade. From 1947 to 1994, the GATT served as the umbrella organization for international trade, establishing standards and rules to allow countries to trade with each other in an open and fair manner. Despite major success at fostering trade in nonfarm products, the GATT contained few effective rules for agricultural trade.

apply optimization in batching situations. The goal of the model is to find not only a product mix but also a batch mix that maximize the penaltied profits.

Although other models are possible, this example shows how such a model might be constructed. Such models may require that certain values be integers but still may be solved by computer methods. The result will be optimal choices regarding the number of batches produced that reflect the costs and revenues that the production facility faces, rather than the intuition of the manager.

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