The HOGCHANC.xls Model

Chance Constrained Blending

View the model
Download the model

In the HOGFEED blending example, we showed you a deterministic model--the Nutrient content of the different grains to be incorporated in the finished feed were known and constant. However, what if the nutrient content is not so reliable? What if the content varies at random? Taking randomness into account, this model is nonlinear and perhaps more likely to occur in the real world.

Objective of Optimization:
The objective is to determine how much of each grain you should buy at today's prices to meet their nutritional requirements at lowest cost.


Forecasting | Production | Probabilities | Uncertainty | Blending | Product Management | Product Mix |