An optimization problem is one where you have to make the best decision (choose the best investments, minimize your company’s costs, find the class schedule with the fewest morning classes, or so on).

Excel is incredibly powerful when your data is complete, but what happens when you need to solve for unknown variables? Enter Goal Seek and the Solver add-in, two tools that let Excel do the heavy ...

Tracking inventory trends helps you determine a quantity that's vital to your business's success: the amount to order for each of your products. If this quantity is too high, your cash is ...

Inventory management has been the focus of three researchers for more than 10 years, Their latest study developed a new mathematical model to apply to inventory problems. Inventory inaccuracy is ...

Excel can solve equations through several of its mathematical functions, but the single Excel tool that works on the largest variety of equations is the program's Solver Add-in. This tool reads an ...

In April, Walmart executives acknowledged it has an inventory management problem: the company lost $3 billion in 2013 sales due to out of stock merchandise while its inventory grew at a faster rate ...

Often leaders will think they are driving a problem-solving culture by insistent, or even just encouraging, team members to utilize the tools and templates of problem-solving. However, most ...

Inventory inaccuracy is common for many businesses. While cash registers track incoming orders and outgoing sales, inaccuracy arises because of unrecorded issues including spoilage, damage and theft.