Using and Excel and Oracle at the same time

I get spreadsheets of data from one of my customers all the time with a bunch of part number serial number combinations that they would like more information on.  The spreadsheet I get always has different data, but it is at least formatted the same every time.  I have a report that will produce what we need to answer their questions, but I would like to be able to take their spreadsheet and use that data.

Is it possible to to have a Crystal Report use that excel sheet in say the select statement so I can only return records that match the part number in column a and the serial number in column b?

Probably.  Two things to remember.  One the Excel workbook and sheet will always need to be named the same.  And since you are also pulling data from another data source, you probably want to use a sub-report (one data source in the main report, another data source in the sub-report.  Possibly filtered by data in the main report).