Optimization theory is the more modern term for operations research.
Optimization theory includes the calculus of variations, control theory, convex optimization theory, decision theory, game theory, linear programming, Markov chains, network analysis, optimization theory, queuing systems, etc.
“Optimization” comes from the same root as “optimal”, which means best.
When you optimize something, you are “making it best”.
The objective function, f(x), which is the output you're trying to maximize or minimize.
The objective function, f(x), which is the output you're trying to maximize or minimize.
The optimization problem is to find the value of the control variables that minimizes (or maximizes) the objective function, subject to a number of constraints.
The constraints collectively define a set, the feasible set, of permissible values for the control variables.