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Nov 1, 2023 · Learn how to solve the transportation problem using the least cost cell method with an example. Find the optimal allocation of supply and demand with the minimum cost and the basic solution.
Learn how to use the Least Cost Method to solve the transportation problem by allocating the minimum cost cells first. See a problem with supply, demand and shipping cost matrix and the solution steps.
- Introduction to Transportation Problem
- What Is Transportation Problems?
- Important Terms Used in Transportation Problems
- Mathematical Formulation of The Transportation Problem
- Methods of Obtaining An Initial Basic Feasible Solution
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As the need for goods and services increases globally, so does the importance of transportation. Transportation determines the profits of businesses which move goods and services from one corner of the country to another, especially in scenarios where transportation time and costs are much higher than production time and costs. The transportation p...
The transportation problem is a type of LPP related to the study of efficient transportation of goods and services from a set of sources to a set of destinations, with an objective to minimise the total cost of transportation. The transportation problem allows organisations to minimise costs and thus, maximise profits. The transportation problem ha...
Let us look at some terms that will often come up in the study of transportation problems: 1. Origin/Source: It refers to the location from which shipments are dispatched. 2. Destination: It refers to the location to which shipments are transported. 3. Unit transportation cost: It refers to the cost of transporting a single or one unit of the consi...
Mathematically speaking, a transportation problem is simply a special LPP where the objective function is to minimise the cost of transportation, subject to the constraints of demand and supply. It can be applied to scenarios in which a single commodity is to be moved from various sources of supply to various demand centres. Because the transportat...
There are five methods to obtain an initial basic feasible solution to a transportation problem are: 1. Row Minimum Method 2. Column Minimum Method 3. North-West Corner Method (NWCM) 4. Least Cost Method (LCM) 5. Vogel’s Approximation Method (VAM)
Learn about the transportation problem, a type of linear programming problem related to the optimal allocation of resources. Find out the methods of obtaining an initial basic feasible solution, including the least cost method (LCM).
Jun 27, 2020 · Least Cost Method (AKA Greedy Method) is one of the methods used in establishing the initial basic feasible solution. Included in this video is the discussion of the definition of the least...
- 15 min
- 46.5K
- IEducator
Nov 25, 2017 · Least cost method [transportation problem] in operation research. MECHITEASY. 26.1K subscribers. Subscribed. 6.4K. 564K views 6 years ago. It is described beautifully in depth. It is...
- 11 min
- 601.6K
- MECHITEASY
Nov 7, 2012 · The first is videos 1, 2, and 3. The second is videos 4, 5, and 6. * The Least Cost Method (sometimes called the Low Cost Method or the Minimum Cost Method) is use to find the initial...
- 3 min
- 88.3K
- Ed Dansereau
People also ask
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Jul 27, 2022 · Learn how to use the least cost method to find the optimal solution for the transportation problem, a linear programming problem involving the distribution of goods from sources to destinations. The web page also explains the stepping stone method, the special cases and the Vogel's approximation method.
