Linear Programming with Microsoft Excel

Linear Programming: Optimize Resource Allocation & Maximize Profits

Are you looking to make the most of limited resources? Many businesses face the challenge of efficiently allocating resources like personnel and capacity to maximize profit. Linear Programming is a powerful mathematical technique designed to solve exactly this type of problem. It allows you to maximize or minimize a linear function – think profit, output, or costs – given a set of constraints.

This is particularly valuable for resource allocation decisions where you have finite assets such as machine time, labor, money, time, or warehouse space. Essentially, linear programming helps you determine the optimal mix of products or services to produce, given your limitations.

In this course, you'll gain the essential skills to build and solve linear programming models independently. We'll focus on practical application using Microsoft Excel, a widely used tool across industries.

By the end of this course, you will be able to:

• Graph Constraints: Utilize Excel's charting features to visually represent the limitations of your resources.
• Solve Linear Programming Problems: Employ Excel Solver to find the optimal solution to your linear programming model.
• Master Advanced Excel Functions: Learn to use powerful functions like Goal Seek and Sum Product to enhance your modeling capabilities.
• Interpret Sensitivity Reports: Understand and utilize the Sensitivity Report generated by Excel Solver to analyze the robustness of your solution and identify potential risks.

This course mirrors a college-level lecture, providing a comprehensive discussion of concepts followed by hands-on problem-solving using the industry-standard spreadsheet software. Learn to apply linear programming to real-world scenarios and make data-driven decisions to improve efficiency and profitability.