What You Will Learn!
- Learn the basic concepts and assumptions of transportation model.
- Learn to formulate a transportation table for a transportation problem.
- Identify how to find out the basic initial feasible solution for a transportation problem using different methods
- Complete a case study to review how transportation model is used in the induction process by Navy.
- Explore different methods such as Vogel's approximation method, Least Cost method, North West Corner rule, Stepping Stone method, Modified distribution method.
Description
A transportation model is a mathematical tool used to optimize the distribution of goods between various sources and destinations. It is a powerful tool that can help businesses reduce costs, improve customer service, and maximize their operations.
Understand What a Transportation Model Is and How It Works. A transportation model is a mathematical tool used to optimize the movement of goods from sources and locations to their destinations. The goal of this type of optimization is to minimize total costs while balancing customer service expectations. It considers various constraints such as shipment size, availability of transport capacity, cost structures, and others. By understanding the fundamentals of a transportation model, businesses can make more informed decisions and increase their operational efficiency.
Transportation models are also beneficial in helping businesses analyze their current supply chain and identify potential areas of improvement or cost savings. They can be used to better understand the trade-offs between speed and cost, as well as customer service levels. Additionally, they can assist when deciding whether a long-term investment in a particular carrier or mode is worth the cost, in addition to optimizing production scheduling and inventory management practices. Ultimately, transportation models provide supply chain managers with insights that could transform the way they approach logistics operations.
In this course, you will learn different methods to solve the problem related to a transportation model. These methods includes North West Corner Method (NWCM), Least Cost Method (LCM), Vogel's Approximation Method (VAM), Optimality test, Modified distribution method, Stepping stone method.
Who Should Attend!
- The course can be useful for students studying operations research, professionals working in IT or Management industry responsible for managing the project.
- Professionals working in supply chain management or in finance field.