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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.
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What are the advantages of stokes method?
What are the advantage and disadvantaged of stroke method of sensitivithy test
When did Ludwig Vogel die?
Paul Vogel died on November 24, 1975, in Los Angeles, California, USA.
When did Bibi Vogel die?
Bibi Vogel's birth name is Sylvia Dulce Kleiner.
Why did Janet vogel commit suicide?
Janet Vogel was the soprano vocalist of the band the Skyliners. She committed suicide by carbon monoxide due to depression.
Who is blonde actress in cialis commercial?
Darlene Vogel
Who developed Vogel's approximation method?
Vogel's approximation method was developed by William R. Vogel.
What is ment by MODI method?
Vogel's Approximation method(verification
Why Vogel Approximation Method gives only feasible solution?
cuz its only an approximation afterall
What are the ways of Solving transportation through quantitative techniques?
North west Corner Rule,Least Cost method ,Vogel's Approximation method(verification by Modi method,Stepping Stone Method)
How do you solve vogel's approximation problem?
I've developed new modification over VAM.
What is Vogel's Approximation method in Industrial management?
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)
What is the differene between analytical and numerical differentiation?
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.
What are the advantage and disadvantage of sampling techniques?
what are the advantage of and disadvantage of sampling method
What are the advantage and disadvantage of Vogel's approximation method VAM?
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.
What is the advantage of the iterative method?
non
What is global convergence?
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
Advantages and disadvantage of project method?
Advantage and disadvantage of project method
