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Optimization is one of the most powerful tools available in Excel, with a broad range of applications such as inventory control, scheduling, asset allocation, product mix and many others.
Models developed for optimization can be either linear or non-linear. This demonstration goes through a classic textbook example of a relatively simple two product mix linear problem to give an idea of how to work with models involving Excel’s Solver Add-in. The video tutorial includes dicussion of the three Solver reports.
You may also be interested in using Excel and Solver to create an optimal solution for a Network Transportation Problem.
The spreadsheet used in this video may be downloaded here.