Enterprise‐wide optimization: A new frontier in process systems engineering

Enterprise‐wide optimization (EWO) is a new emerging area that lies at the interface of chemical engineering and operations research, and has become a major goal in the process industries due to the increasing pressures for remaining competitive in the global marketplace. EWO involves optimizing the operations of supply, manufacturing and distribution activities of a company to reduce costs and inventories. A major focus in EWO is the optimal...