Mixed-Integer Programming (MIP) is a mathematical optimization technique used to solve problems where some variables must take on integer values while others can be continuous. This approach is particularly useful in fields like operations research, supply chain management, and finance, where decisions often involve both whole numbers (like the number of items to produce) and fractional values (like the cost per item). In MIP, the goal is to find the best solution that maximizes or minimizes a specific objective, such as profit or cost, while satisfying a set of constraints. By combining integer and continuous variables, MIP can model complex real-world scenarios, making it a powerful tool for decision-making in various industries.