Logistics Optimization with Excel Solver
- 4.3
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Brief Introduction
Learn how to Use Excel Solver Add-in to Optimize Transportation and Distribution NetworksDescription
Logistics Management is typically concerned with managing the flow of products across the supply chain efficiently and effectively. The task of planning and managing such flow is critical if the company is to compete in the marketplace. Transportation is one of the critical key activities of logistics and it constitutes a large proportion of the logistics cost. Almost every company deals in some way or another with transporting its products from where they are made to where they are consumed.
Linear Programming is a commonly used model in management science and it has a wide range of applications in many different areas of business management. In this course, you will learn how to apply the linear programming techniques to optimize logistics flows across the supply chain network using the Excel Solver Add-in.
We will start from the very basic definition of Linear Programming, how to formulate and solve Linear Programming models, and subsequently we will extend what we have learned to step-by-step solve and optimize more complex logistics problems.
You will be introduced to three critical issues in Logistics Management and Distribution Planning:
Transportation Problem,
Transshipment Problem,
Production and Inventory Scheduling Problem.
You'll also have the opportunity to test your knowledge with the additional worksheets, exercises and the short quizzes provided in the course.
On completion of this course, you will be very confident in modeling logistics problems into linear programs that can be optimized with Excel Solver. You will also be able to think structurally about the logistics problems and come up with sound business decisions.
Requirements
- Requirements
- A computer with Microsoft Excel installed.
- Basic Understanding of Logistics Concepts (e.g. Transportation, Distribution, Cost)
Logistics Knowledge Bank
4.3 Raiting
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