1 / 10

Introduction to Operations Research

Linear Programming with Excel Solver. Introduction to Operations Research. Use Excel’s Solver as a tool to assist the decision maker in identifying the optimal solution for a business decision. Business decisions are often subject to constraints or business rules to solve business problems.

phuong
Download Presentation

Introduction to Operations Research

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Linear Programming with Excel Solver Introduction to Operations Research

  2. Use Excel’s Solver as a tool to assist the decision maker in identifying the optimal solution for a business decision. • Business decisions are often subject to constraints or business rules to solve business problems. • Solver can be used for decisions, such as, maximizing profit or reducing costs. Excel’s Solver

  3. Determine the changing cells. These are the variables that Excel will use to determine the optimal result. • Wyndor Glass Co. Example Setting up Excel’s Solver

  4. Wyndor Glass Co. Example

  5. What are the decisions to be made? What are the variables? • Production Rate (how much to produce) of Products 1 and 2 • What are the constraints? • Hours of production time used (per week) cannot exceed the number of available hours at each plant • What is the overall measure of performance? • Total profit per week from Products 1 and 2 (objective is to maximize) Wyndor Glass Co. Example

  6. Wyndor Glass Co. Example Set up in Excel worksheet

  7. Wyndor Glass Co. Example What are the decisions to be made? What are the variables? Production Rate (how much to produce) of Products 1 and 2

  8. Wyndor Glass Co. Example What are the constraints? Hours of production time used cannot exceed the number of available hours at each plant

  9. Wyndor Glass Co. Example What is the overall measure of performance? Total profit per week from Products 1 and 2 (objective is to maximize)

  10. Using solver Enter the target cell, changing cells, and constraints into the Solver Parameters window.

More Related