goal seek minimize function
 

I would like to optimize shipment sizes by taking both shipment and storage
costs into account.

I would like to use the goal seek function to minimize the value in a
certain cell (total cost) by changing another the value in another cell
(shipment size).

However, I have found that the goal seek function is set up in such a way so
that the value in the goal seek cell is set to a certain value and that there
is no way to minimize that value. Did I miss anything? Or I should just set
value to zero to minimize it.

Answer: goal seek minimize function
 

You are correct that the Goal Seek function in Excel is typically used to find a specific value in a cell by changing the value in another cell. However, it is possible to use Goal Seek to minimize a value by setting it to zero.

Here's how you can use Goal Seek to minimize the total cost of your shipments:

1. First, make sure you have a formula in your spreadsheet that calculates the total cost of a shipment based on the shipment size and storage costs. Let's say this formula is in cell A1.
2. Next, choose the cell where you want to enter the shipment size that will minimize the total cost. Let's say this is cell B1.
3. Enter an initial guess for the shipment size in cell B1.
4. Go to the "Data" tab in the Excel ribbon and click on "What-If Analysis" and then "Goal Seek."
5. In the Goal Seek dialog box, set the "Set cell" field to the cell that contains the total cost formula (A1 in our example).
6. Set the "To value" field to 0, since we want to minimize the total cost.
7. Set the "By changing cell" field to the cell that contains the shipment size (B1 in our example).
8. Click "OK" to run the Goal Seek function.
9. Excel will now try different values for the shipment size until it finds the one that minimizes the total cost. Once it has found a solution, it will display a message asking if you want to keep the solution. Click "OK" to accept the solution.
10. The shipment size in cell B1 will now be set to the value that minimizes the total cost.

I hope this helps you optimize your shipment sizes and storage costs!

goal seek minimize function
 

I would like to use the goal seek function to minimize the value in a
certain cell (total cost)

Hi. It sounds like Excel's "Solver" would be a better tool. It's an
Add-Inn, so first enable it via Tools Add-Ins.. Solver.
Then run it with Tools Solver...
Hope this helps. Post back if you have any questions on Solver. :)

--
Dana DeLouis
Windows XP & Office 2003


"TaiwanSwede" wrote in message
...
I would like to optimize shipment sizes by taking both shipment and storage
costs into account.

I would like to use the goal seek function to minimize the value in a
certain cell (total cost) by changing another the value in another cell
(shipment size).

However, I have found that the goal seek function is set up in such a way
so
that the value in the goal seek cell is set to a certain value and that
there
is no way to minimize that value. Did I miss anything? Or I should just
set
value to zero to minimize it.

goal seek minimize function
 

Seems that's exactly what I'm looking for. Thanks a lot Dana.



"Dana DeLouis" wrote:

I would like to use the goal seek function to minimize the value in a
certain cell (total cost)

Hi. It sounds like Excel's "Solver" would be a better tool. It's an
Add-Inn, so first enable it via Tools Add-Ins.. Solver.
Then run it with Tools Solver...
Hope this helps. Post back if you have any questions on Solver. :)

--
Dana DeLouis
Windows XP & Office 2003


"TaiwanSwede" wrote in message
...
I would like to optimize shipment sizes by taking both shipment and storage
costs into account.

I would like to use the goal seek function to minimize the value in a
certain cell (total cost) by changing another the value in another cell
(shipment size).

However, I have found that the goal seek function is set up in such a way
so
that the value in the goal seek cell is set to a certain value and that
there
is no way to minimize that value. Did I miss anything? Or I should just
set
value to zero to minimize it.