November 21, 2017 1:44 am
Written by Dalia Gavan
Process Optimization: is the discipline of adjusting a process so as to optimize some specified set of parameters without violating some constraint. The most common goals are minimizing cost and maximizing throughput and/or efficiency. This is one of the major quantitative tools in industrial decision making. When optimizing a process, the goal is to maximize one or more of the process specifications, while keeping all others within their constraints. This can be done by using a process mining tool, discovering the critical activities and bottlenecks, and acting only on them.