However, I want to earn a minimum profit of 7500 by increasing the unit price. I have Units produced, basic units per price, the total cost involved, and the profit value.īy selling 1500 units at a basic rate of 15 per unit, I will earn 2150 as profit. I will demonstrate one more example to understand better. In this way, we use SOLVER to solve our problems. Therefore, the X value is 30, and the Y value is 25 to get the total of 55. (Excel will take some 15 seconds to run it). Step 14: Once the SOLVE button has clicked, excel will solve the problem based on the criterion you have given. Step 13: Now click on the SOLVE button, which is located at the bottom of the box. You will see all the variables in the SOLVER box. Step 11: Give the second criteria for variable Y. For this variable, criteria are it should be greater than equal to 25 and should be an integer.
Step 10: Similarly, give criteria to the second variable, Y. The second criterion is X should be an integer value. Step 9: In the same box, give the second criteria. It will add the criterion to the solver box, the current values will be stored, and the same box will once again show up with no values.
Our first criterion is X should be greater than equal to 30. In this box, we need to mention our first criteria. Step 8: Once you click on the ADD item, it will open the below dialogue box. Click on ADD option in the Solver dialogue box. Remember our criteria initially we stated. In this example, we need to change the variables X & Y, and these cell values are in B1:B2. Step 6: Now, in By Changing Variable Cells: select the cells you want to change the values to get the sum of 50. In this case, X + Y should be equal to 50. Step 5: In the To: section, select Value of and type 50 as the value. In this example, the cell we want to change is cell B3. Step 4: In the Set Objective, give a link to the cell that we want to change. Here we need to set our objective, give many criteria’s and solve the problem. Step 3: Once you click on Solver, it will open the below dialogue box. The SUM function adds those two cell values and gives the sum. As dummy data, I have mentioned 1 for both X & Y variables. Step 1: Write a simple equation in an excel sheet.
#Lp solver for excel download#
Download the Excel file, enter the solver parameters (previous 7 steps) and find the optimal solution.You can download this Solver tool Excel Template here – Solver tool Excel Template Example #1Īs I have explained at the start, we will do the X + Y = 50 calculation to start our SOLVER journey in Excel. This solution uses all the resources available. This solution gives the maximum profit of 25600. Check 'Make Unconstrained Variables Non-Negative' and select 'Simplex LP'.Ĭonclusion: it is optimal to order 94 bicycles and 54 mopeds. Click Add to enter the following constraint.Ħ. Enter OrderSize for the Changing Variable Cells.ĥ. You have the choice of typing the range names or clicking on the cells in the spreadsheet.Ĥ. The result should be consistent with the picture below. On the Data tab, in the Analyze group, click Solver.Įnter the solver parameters (read on). To find the optimal solution, execute the following steps.ġ. We shall describe next how the Excel Solver can be used to quickly find the optimal solution.
#Lp solver for excel trial#
It is not necessary to use trial and error. This solution has a total profit of 19000. With this formulation, it becomes easy to analyze any trial solution.įor example, if we order 20 bicycles, 40 mopeds and 100 child seats, the total amount of resources used does not exceed the amount of resources available. Total Profit equals the sumproduct of UnitProfit and OrderSize. The amount of storage used equals the sumproduct of the range C8:E8 and OrderSize. Insert the following three SUMPRODUCT functions.Įxplanation: The amount of capital used equals the sumproduct of the range C7:E7 and OrderSize. To make the model easier to understand, create the following named ranges. What is the overall measure of performance for these decisions? The overall measure of performance is the total profit of the three products, so the objective is to maximize this quantity.Ģ. For example, each bicycle uses 300 units of capital and 0.5 unit of storage.Ĭ. What are the constraints on these decisions? The constrains here are that the amount of capital and storage used by the products cannot exceed the limited amount of capital and storage (resources) available. What are the decisions to be made? For this problem, we need Excel to find out how much to order of each product (bicycles, mopeds and child seats).ī.
To formulate this linear programming model, answer the following three questions.Ī. The model we are going to solve looks as follows in Excel.ġ. You can find the Solver on the Data tab, in the Analyze group. Under Add-ins, select Solver Add-in and click on the Go button.Ĥ.
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