Operations Management: An Integrated Approach, 5th Edition

Supplement Highlights

People use informal “optimization” to make decisions almost every day.

Organizations use formal optimization methods to address problems across the organization, from optimal pricing to locating a new facility.

The algebraic formulation of an LP comprises the definitions of the decision variables, an algebraic statement of the objective function, and algebraic statements of the constraints.

The spreadsheet model for an optimization problem should be guided by the algebraic formulation.

Solver, an Excel add-in, is able to solve both linear and nonlinear problems. This supplement focuses on solving linear problems.

After solving an LP, you must interpret the results to see if they make sense, fix problems with the model, and find the insights useful for management.

Solver can generate the Answer and Sensitivity Reports. The Sensitivity Report provides additional ...