3-day Virtual Seminar

2-Hour Virtual Seminar on Introduction to Excel's Built-In Solver - Advanced Decision-Making Tools

Overview

"Solver is a Microsoft Excel add-in program you can use for what-if analysis. Use Solver to find an optimal (maximum or minimum) value for a formula in one cell called the objective cell - subject to constraints, or limits, on the values of other formula cells on a worksheet. Solver works with a group of cells, called decision variables or simply variable cells that are used in computing the formulas in the objective and constraint cells. Solver adjusts the values in the decision variable cells to satisfy the limits on constraint cells and produce the result you want for the objective cell.

Put simply, you can use Solver to determine the maximum or minimum value of one cell by changing other cells. For example, you can change the amount of your projected advertising budget and see the effect on your projected profit amount". (Microsoft Support page.)

Why you should Attend

Any business professional or student interested in optimizations. 

The Solver is an Excel Add in tool used for linear and non linear programming. It is used to obtain the optimal solution for either minimization (cost, time etc.) or maximization (profit). The set of programs the Solver is used for is under the general discipline of operations management.

Areas Covered in the Session

• This workshop will begin with a simple optimization problem. From there you will be shown examples of:
  
  • Solving transportation problems
    
  • The assignment problem: Assigning the right person for the right job
    
  • Financial planning and Capital budgeting. Using the solver for capital investment budgeting decisions
    
  • Product Mix: Determine how many products of each type to assemble from certain parts to maximize profits while not exceeding available parts inventory
    
  • Blending: Determine which raw materials from different sources to blend to produce a substance with certain desired qualities at minimum cost
    
  • Scheduling workforce in an organization
  • Plant location
    

Who Will Benefit

• Any Business Professional or Student