What is objective function bound in SAP SCM-IBP-PLA - Planning Framework?

SAP Term: objective function bound

• Component: SCM-IBP-PLA

• Component Name: Planning Framework

• Description: Limit of an objective function. In optimization, it is known that no feasible solution can be better than this bound.

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• Key Concepts: 
  Objective function bound is a concept used in the SCM-IBP-PLA Planning Framework. It is a mathematical expression that defines the upper and lower limits of an optimization problem. The objective function bound is used to define the range of possible solutions for a given problem. 
  
  How to use it: 
  The objective function bound is used to define the range of possible solutions for a given problem. It is used to set the upper and lower limits of an optimization problem. This helps to ensure that the solution found by the optimization algorithm is within the desired range. 
  
  Tips & Tricks: 
  When setting an objective function bound, it is important to consider the range of possible solutions for a given problem. This will help to ensure that the solution found by the optimization algorithm is within the desired range. 
  
  Related Information: 
  Objective function bound is related to other concepts such as linear programming, nonlinear programming, and constraint programming. These concepts are used in various optimization algorithms and can help to find optimal solutions for complex problems.