Linear Programming with Excel Solver.  Use Excel’s Solver as a tool to assist the decision maker in identifying the optimal solution for a business decision.

Slides:

Advertisements

Similar presentations

Solving LP Problems in a Spreadsheet

Advertisements

1Introduction to Linear ProgrammingLesson 2 Introduction to Linear Programming.

LINEAR PROGRAMMING (LP)

Introduction to Mathematical Programming Matthew J. Liberatore John F. Connelly Chair in Management Professor, Decision and Information Technologies.

Wyndor Example; Enter data Organize the data for the model on the spreadsheet. Type in the coefficients of the constraints and the objective function.

Solving Linear Programming Models. Topics Computer Solution Sensitivity Analysis.

Introduction to Management Science

Operations Management Linear Programming Module B - Part 2

Chase Manhattan Bank By South Group

Chapter 2 Linear Programming Models: Graphical and Computer Methods © 2007 Pearson Education.

McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., Three Classic Applications of LP Product Mix at Ponderosa Industrial –Considered limited.

Using Excel Solver for Linear Optimization Problems

Spreadsheet-based 0ptimization Objective: Execute the optimization of profit functions using the Excel spreadsheet. With modern spreadsheets, optimization.

INFM 718A / LBSC 705 Information For Decision Making Lecture 4.

QM B Linear Programming

Pet Food Company A pet food company wants to find the optimal mix of ingredients, which will minimize the cost of a batch of food, subject to constraints.

Linear Programming Integer Linear Models. When Variables Have To Be Integers Example – one time production decisions –Fractional values make no sense.

1 5. Linear Programming 1.Introduction to Constrained Optimization –Three elements: objective, constraints, decisions –General formulation –Terminology.

6s-1Linear Programming CHAPTER 6s Linear Programming.

Computational Methods for Management and Economics Carla Gomes Module 4 Displaying and Solving LP Models on a Spreadsheet.

Linear Programming Example 2 Alternate Optimal Solutions.

WOOD 492 MODELLING FOR DECISION SUPPORT Lecture 2 Introduction to Linear Programming.

Introduction to Linear Programming

Chapter 2 Linear Programming Models: Graphical and Computer Methods

Chapter 4 - Linear Programming: Computer Solution Excel Solver

Table of Contents Chapter 2 (Linear Programming: Basic Concepts)

Decision Making via Linear Programming: A simple introduction Fred Phillips

Introduction to Linear Programming

Optimization Models Mathematical optimization models usually contain an objective (what to do) constraints (the rules that must be followed). Also referred.

Chapter Topics Computer Solution Sensitivity Analysis

Linear Programming: Basic Concepts

McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., Table of Contents Chapter 5 (What-If Analysis for Linear Programming) Continuing the Wyndor.

Table of Contents Chapter 5 (What-If Analysis for Linear Programming) Continuing the Wyndor Case Study (Section 5.2)5.2 Changes in One Objective Function.

Table of Contents Chapter 6.8 (Sensitivity Analysis with Solver Table) Continuing the Wyndor Case Study Changes in One Objective Function Coefficient Simultaneous.

Opener. Notes: 3.4 Linear Programming Optimization  Many real-life problems involve a process called optimization.  This means finding a maximum or.

5-1 Wyndor (Before What-If Analysis). 5-2 Using the Spreadsheet to do Sensitivity Analysis The profit per door has been revised from $300 to $200. No.

CDAE Class 12 Oct. 5 Last class: Quiz 3 3. Linear programming and applications Today: Result of Quiz 3 3. Linear programming and applications Next.

1 Systems Analysis Methods Dr. Jerrell T. Stracener, SAE Fellow SMU EMIS 5300/7300 NTU SY-521-N NTU SY-521-N SMU EMIS 5300/7300 Statistical Analysis Other.

An-Najah N. University Faculty of Engineering and Information Technology Department of Management Information systems Operations Research and Applications.

Linear Programming Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill.

DAY 10: EXCEL CHAPTER 8, 9, 10 Tazin Afrin September 23,

Goal Seek and Solver. Goal seeking helps you n Find a specific value for a target cell by adjusting the value of one other cell whose value is allowed.

McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved. 6S Linear Programming.

1 A Linear Programming model seeks to maximize or minimize a linear function, subject to a set of linear constraints. The linear model consists of the.

What-If Analysis for Linear Programming

4-1 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Linear Programming: Modeling Examples Chapter 4- Part2.

Math Programming Concept of Optimization (L.O. a ) Linear Programming Managerial Value of Information (L.O. d) Theory (L.O. b) Example Applications (L.O.

Linear Programming Optimal Solutions and Models Without Unique Optimal Solutions.

ENGM 631 Optimization Using Solver. Sec. 3.1Alt. Model Max Z = 3X 1 + 5X 2 s.t. X 1 < 8,000 X 2 < 6,000 3X 1 + 4X 2 < 36,000 X 1 > 0 X 2 > 0.

Linear Programming.  Linear Programming provides methods for allocating limited resources among competing activities in an optimal way.  Linear → All.

Warm-upWarm-up Sketch the region bounded by the system of inequalities: 1) 2) Sketch the region bounded by the system of inequalities: 1) 2)

Case Study By: The South Group

Linear Programming Wyndor Glass Co. 3 plants 2 new products –Product 1: glass door with aluminum framing –Product 2: 4x6 foot wood frame window.

EMGT 5412 Operations Management Science Nonlinear Programming: Introduction Dincer Konur Engineering Management and Systems Engineering 1.

Linear Programming McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Excel’s Solver Use Excel’s Solver as a tool to assist the decision maker in identifying the optimal solution for a business decision. Business decisions.

Exploring Microsoft Office Exploring Excel Appendix C

Chapter 2 Linear Programming Models: Graphical and Computer Methods

Ardavan Asef-Vaziri Systems and Operations Management

Problem 1 Demand Total There are 20 full time employees, each can produce 10.

Excel Solver IE 469 Spring 2017.

Linear Programming Wyndor Glass Co. 3 plants 2 new products

Excel Solver IE 469 Spring 2018.

INFM 718A / LBSC 705 Information For Decision Making

Excel Solver IE 469 Fall 2018.

Excel: Solver Participation Project

Excel Solver IE 469 Spring 2019.

BUS-221 Quantitative Methods

Table of Contents Chapter 2 (Linear Programming: Basic Concepts) The Wyndor Glass Company Product Mix Problem (Section 2.1)2.2 Formulating the Wyndor Problem.

Presentation transcript:

Linear Programming with Excel Solver

 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.

 Determine the changing cells. These are the variables that Excel will use to determine the optimal result.  Wyndor Glass Co. Example

Plant Production Time per Batch (hrs) Production Time Available per Week Product1Product2 110≤ 4 202≤ ≤ 18 Profit per Batch$3,000$5,000

 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)

Set up in Excel worksheet

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 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)

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