Description
Utilize Excel to reduce transportation costs, increase the profit, and develop longterm transportation strategies.
Supply chain management has become one of the most challenging topics that concern companies currently due to its direct influence on their revenues and margins. This complex network that links suppliers to final customers requires a huge cost control to remain competitive in the market, and transportation constitutes a leading factor in costefficiency strategies for companies. Here is where the transportation problem comes in, as it is a mathematical optimization problem that will help you find the most costeffective way to distribute a product from a set of locations to a set of customers. This presentation will provide you with a clear definition of the transportation problem, its types, and the steps you should follow to solve it in Excel using the Solver tool. This topic is important as it will allow you to reduce transportation costs and the environmental impact, increase the profit, and develop longterm transportation strategies.
Date: 2023-02-24 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define the principles and assumptions behind the transportation problem.
* You will be able to review how to use the Excel Solver tool to solve the transportation problem.
* You will be able to describe how to model the transportation problem in Excel with all its components (objective function, decision variables, and constraints).
* You will be able to explain the Solver results and make the necessary decisions about your transportation system.