Description
Petrol blend optimization with Excel solver
This downloadable virtual product contains a case study solving a blending problem. The case study optimized petrol grade blending using Excel solver.
In detail, this product includes:
- PDF file with a presentation of the case study and description of the blending problem
- Excel sheet with Excel Solver model implementation of the blend optimization model
- Instructions for how to activate the Solver add-in in Excel.
Who will benefit from this blending optimization Excel solver model?
This downloadable product suits supply chain analysts, operations researchers, transport planners, and students that want to:
- Get a hands-on example on a blender problem.
- Learn how blender problems are solved using mathematical programming.
- Obtain an blend optimization template in Excel.
- Learn Excel Solver.
- Get a hands-on example on Simplex algorithm application in linear optimization.
Brief case study description
A major oil company produced petrol grades from crude oil blends. There are 3 crude oil categories available, in defined quantities. Three petrol grades (low, medium, and premium grade) result from crude oil blends. Each blend has defined lower and upper limits for the content of each crude oil category.
The problem: As the petrol grades sell at different prices, the company wants to maximize sales revenue subject to crude oil availability and blending constraints.
Relevant KPIs traced and outputted by this model
The model contained by this product tracks relevant KPIs.
The following KPIs supported by the model:
- Amount of crude oil per category used for each petrol grade blend.
- Sales revenue.
The model uses the following units:
- Barrel, used for quantity measures.
- EUR, for sales prices and sales revenue.
Learn more about mathematical programming and analytics
You can find several other contributions on SCDA related to mathematical programming.
Here are some exemplary articles for you to read:
Reviews
There are no reviews yet.