Question
In: Operations Management
When do people use Solver(in excel) in their work field on a daily basis? Is it...
When do people use Solver(in excel) in their work field on a daily basis? Is it an important function?
Solutions
Expert Solution
Solver is used for optimization purpose. In a work field it is used in the following cases:
1. If you want to get an optimum value (maximum or minimum) of a dependent function, given the constraints.
2. If you have lesser equation and more variables and you need an optimum solution, the hit and trial for all possible combination of values for the variables is done by solver.
3. If logistics problems, suppose you want to check for the optimized route, solver does that.
4. If you want to check what possible mixture of ingredient provides the best possible output, given the constraint, solver is the best solution.
Yes it is an importnat function. Solver does all the possible hit and trials with all the possible values that is being defined by the constraints, to provide an optimal solution. Ideally this may take hours or days long for a human to go through all the possible combination of data for the variables to reach the result. Solver does that in seconds.
keosha answered 1 year agoRelated Solutions
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