Utilizing RISKOptimizer to manage quality performance

Abstract

New software products are now available that offer solutions to operational problems that could not be handled by traditional linear programming. The problem of quality performance described could previously only have been handled by writing a special purpose simulation program. Now it can be solved in a spreadsheet environment using Evolver and RISKOptimizer software. Evolver can identify a global rather than a local optimal solution when non‐linear relationships are present. RISKOptimizer takes the process one step further. It combines @RISK simulation capablity with Evolver’s optimization algorithms to handle stochastic variables (uncertain demand and prices).