Optimization Problems and Advanced Excel

Scenario¬†1 : A company is taking bids on four construction jobs. Three contractors have placed bids on the jobs. Their bids (in thousands of dollars) are given in the table below. (A dash indicates that the contractor did not bid on the given job.) Note: Contractor 1 can do only one job, but contractors 2…

Optimization and Simulation : Decision Model

For the practical use of supply chain management powerful planning tools are needed to support production and logistics decisions at various planning levels. Instead of using an off-the-shelf planning tool, the company decided to develop its own linear programming based optimization model. Scenario 1: Empire State Ski Products makes downhill and cross- country skis. A…