Use Analytic Solver Optimization to allocate resources such as money, people and time, with the full range of solving methods
Optimization helps you find the best way to allocate resources: money, staff time, raw materials or inventory, energy, warehouse space, and more. In each case, multiple decisions must be made in the best possible way while simultaneously satisfying a number of constraints. The "best" or optimal solution might mean maximizing profits, minimizing costs, or achieving the best possible quality. And every feature you need to do this is included in Analytic Solver Basic software (for small size models)! Below are some examples.
Classic Solver Tutorial using a Product Mix problem (multiple pages, step by step)
Modern Optimization Tutorial using a Call Center Scheduling problem (one page)
Finance and Investment
- Working capital management decides how much cash to allocate to accounts receivable or inventory across multiple time periods.
- Capital budgeting decides how much money to invest in projects that initially consume cash but later generate cash.
- Portfolio optimization -- creating "efficient portfolios" -- decides how much money to invest in stocks or bonds.
- Job shop scheduling decides how to best assign work to different types of production equipment.
- Blending (of petroleum products, ores, animal feed, etc.) decides how to combine raw materials of different types and grades.
- Cutting stock (for lumber, paper, etc.) decides how to cut large sheets or timbers into smaller pieces, to minimize waste.
Distribution and Networks
- Routing (of goods, natural gas, electricity, etc.) decides which paths items should move through to arrive at desired destinations.
- Loading (of trucks, rail cars, etc.) decides how packages of different sizes can best use vehicle space.
- Scheduling of workers, vehicles or meeting rooms decides how these resources should be allocated to various tasks.