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VAM is an improved version of the least-cost method that generally, but not always, produces better starting solutions. VAM is based upon the concept of minimizing opportunity (or penalty) costs. The opportunity cost for a given supply row or demand column is defined as the difference between the lowest cost and the next lowest cost alternative. This method is preferred over the methods discussed above because it generally yields, an optimum, or close to optimum, starting solutions. Consequently, if we use the initial solution obtained by VAM and proceed to solve for the optimum solution, the amount of time required to arrive at the optimum solution is greatly reduced.

Q: What is the advantage of Vogel approximation method?

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Vogel's approximation method was developed by William R. Vogel.

Vogel's Approximation method(verification

cuz its only an approximation afterall

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I've developed new modification over VAM.

Vogel's approximation method is a mathematical technic to solve logistics related problems. For example, there are 3 factories supplying to 4 warehouses. we have the data of each factories production capacity, demand of each warehouse and transportation cost from each factory to each warehouse. Vogel's method can be used to find out an optimal solution to cost of transportation. The method is iterative in nature. It means that we make some initial assumption and determine "Initial solution". Then we go on making refinements and repeat the calculations, till we achieve 'optimal solution'. One study found that VAM yields an optimum solution in 80 percent of the sample problems tested. Atul Shah (Mumbai-India)(emali: atulsi_2000@yahoo.com)

The advantage of the mid-point method in mathematics is that it provides a more accurate approximation of the area under a curve compared to the trapezoidal rule, especially when the function has rapid changes. The disadvantage is that it can be more computationally intensive since it requires evaluating the function at more points.

numerical method 1:numerical method uses finite difference or finite element method approximation to solve differential equation 2:give just approximation of the perfect solution analytical method 1:does not uses finite difference 2:give theoreticaly perfect solution.

VAM is an improved version of the least-cost method that generally, but not always, produces better starting solutions. VAM is based upon the concept of minimizing opportunity (or penalty) costs. The opportunity cost for a given supply row or demand column is defined as the difference between the lowest cost and the next lowest cost alternative. This method is preferred over the methods discussed above because it generally yields, an optimum, or close to optimum, starting solutions. Consequently, if we use the initial solution obtained by VAM and proceed to solve for the optimum solution, the amount of time required to arrive at the optimum solution is greatly reduced.

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An iterative method is called locally convergent if the successive approximations produced by the method are guaranteed to converge to a solution when the initial approximation is already close enough to the solution. Iterative methods for nonlinear equationsand their systems, such as Newton's method are usually only locally convergent. An iterative method that converges for an arbitrary initial approximation is called globally convergentfrom wikipedia

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