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Introduction to Excel's Built-In Solver – Advanced Decision-Making Tools
- 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
Overview of the webinar
The purpose of this workshop is to introduce you to the use of Microsoft Solver for optimizations.
“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.
Who should attend?
- Management Analyst
- Decision Maker
Why should you attend?
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.)
Faculty - Dr.Isaac Gottlieb
For more than 25 years Dr. Isaac Gottlieb has been teaching Excel workshops for MBA students in a number of universities, including, Columbia, NYU, Rutgers and others in the US and other countries. In addition, he taught courses of Management Science and Statistics for Managers (always) using Excel. Over 100,000 students have attended his workshops and courses over the past 25 years.
He received the Microsoft MVP – Most Valuable Professional – award for the years 2014-6. “A Microsoft Most Valuable Professional (MVP) is an award for individuals who have exhibited exceptional technical expertise and a talent for sharing knowledge within their technical community.” (From Microsoft’s site.)
Isaac Gottlieb has taught how to use Excel—and how to apply it effectively to various business disciplines—to thousands corporate professionals from leading multinational companies as well as small private business corporations. Among them are Johnson & Johnson, Merck, Pfizer, Procter & Gamble, Caterpillar, Vornado, El-Al Airlines, Microsoft, Intel, Boeing, NCR, Chrysler, Sealed Air, JPMorgan, Morgan Stanley, 3M, H-P, and the New York City Economic Development Corporation.