Which of the following are the steps of least cost entry method answer?

Various steps involved in this method are summarized as under. Step 1: Find the cell with the least(minimum) cost in the transportation table. Step 2: Allocate the maximum feasible quantity to this cell. Step:3: Eliminate the row or column where an allocation is made.

Which method is also known as least cost method?

What is minimum cell cost method?

What is the answer of the transportation problem by LCM?

What is meant by least cost?

How do you find the initial basic feasible solution?

Step 1: Find the cell with the least(minimum) cost in the transportation table. Step 2: Allocate the maximum feasible quantity to this cell. Step:3: Eliminate the row or column where an allocation is made. Step:4: Repeat the above steps for the reduced transportation table until all the allocations are made.

Which method usually gives a very good initial solution to the transportation problem?

Usually, the initial basic feasible solution of any transportation problem is obtained by using well known methods such as North-West corner method (NWCM) or Least-Cost Method (LCM) or Vogel’s Approximation Method (VAM), and then finally the optimality of the given transportation problem is checked by MODI.

What is VAM method in transportation problem?

Vogel’s Approximation Method (VAM) is one of the methods used to calculate the initial basic feasible solution to a transportation problem. However, VAM is an iterative procedure such that in each step, we should find the penalties for each available row and column by taking the least cost and second least cost.

How do you use the lowest cost method?

What is least cost entry method?

Definition: The Least Cost Method is another method used to obtain the initial feasible solution for the transportation problem. Here, the allocation begins with the cell which has the minimum cost. The lower cost cells are chosen over the higher-cost cell with the objective to have the least cost of transportation.

What is first cost?

First Cost refers to any Product purchased by Designs outside the Territory and means the price paid to the manufacturer for that Product and does not include any other costs, including without limitation shipping, handling, or insurance costs or any taxes, duties, or customs charges.

How can least cost method be used in transportation problem?

Solution: According to the Least Cost Cell method, the least cost among all the cells in the table has to be found which is 1 (i.e. cell (O1, D2)). Now check the supply from the row O1 and demand for column D2 and allocate the smaller value to the cell. The smaller value is 300 so allocate this to the cell.

How do you solve degeneracy in transportation problem?

In order to resolve degeneracy, the conventional method is to allocate an infinitesimally small amount e to one of the independent cells i.e., allocate a small positive quantity e to one or more unoccupied cell that have lowest transportation costs, so as to make m + n – 1 allocations (i.e., to satisfy the condition N …

How do you test optimality in a transportation problem?

Optimality test for a transportation problem

In a standard transportation problem with m sources of supply and n demand destinations, the test of optimality of any feasible solution requires allocations in m + n – 1 cells. These m + n – 1 allocation should be at independent positions.

How do you solve an assignment problem if the objective is profit maximization?

How do you find the least cost method?

What is lowest cost entry method?

Definition: The Least Cost Method is another method used to obtain the initial feasible solution for the transportation problem. Here, the allocation begins with the cell which has the minimum cost. The lower cost cells are chosen over the higher-cost cell with the objective to have the least cost of transportation.

How do you solve the least cost method?

How do you use the north west corner method?

North West Corner Rule Steps

Step 1: Select the upper-left cell, i.e., the north-west corner cell of the transportation matrix and assign the minimum value of supply or demand, i.e., min(supply, demand). Step 2: Subtract the above minimum value from Oi and Di of the corresponding row and column.

How do you find the optimal solution in a transportation problem?

What is lowest initial cost?

lowest first cost. A method of selecting goods or services on the basis of the lowest cost at the time of purchase without regard to ongoing operating or maintenance costs.