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optimisation

  1. #1
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    optimisation

    Dear All

    I hope this message finds you all well.

    I am trying to see whether there is a formula out there that will assist me in finding the most optimal mix of products to allocate to any particular mix of 3 suppliers. Supplier A, B and C are represented in the table below and have two different product offerings. Figures are for representation purposes only. What combination would be optimal by using excel?

    A B C
    PRODUCT 1 100 150 120
    PRODUCT 2 120 50 170

    I have tried to use the what if function but I have not been able to get my head around it. I would greatly appreciate any help offered.

    Thank you
    Alphonse

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    Re: optimisation

    It seems to me that your problem is incomplete. With most any optimization problem, I find that the first step is to come up with an "objective function" -- the function that will tell us what "optimal" means. If you were to do this by hand using paper, pencil, and calculator/slide rule, how would you determine which combination is optimal? How would you measure/calculate how optimal something is?
    Quote Originally Posted by shg
    Mathematics is the native language of the natural world. Just trying to become literate.

  3. #3
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    Re: optimisation

    MrShorty, that's a good question. Suppliers a,b and c have tendered for a contract and have provided total costs for products 1 and 2. I can allocate any percentage of the contract to whatever supplier. So, I guess what I am after is the best possible percentage of contract that makes up product 1 and 2 that represents the least cost to the overall contract.

  4. #4
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    Re: optimisation

    well, since there's no increase/decrease after x amount of product (that I can see) wouldn't it just be the lowest number?

    Are we missing something or is your optimization that simple?

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    Re: optimisation

    Your post does not comply with Rule 1 of our Forum RULES. Your post title should accurately and concisely describe your problem, not your anticipated solution.

    Use terms appropriate to a Google search. Poor thread titles, like Please Help, Urgent, Need Help, Formula Problem, Code Problem, and Need Advice will be addressed according to the OP's experience in the forum: If you have less than 10 posts, expect (and respond to) a request to change your thread title. If you have 10 or more posts, expect your post to be locked, so you can start a new thread with an appropriate title.

    To change a Title go to your first post, click EDIT then Go Advanced and change your title, if 2 days have passed ask a moderator to do it for you.

    (This thread should receive no further responses until this moderation request is fulfilled, as per Forum Rule 7)
    Ben Van Johnson

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