A single facility is needed to meet the demands of four markets. The locations and demands of these four markets are shown below. Market Coordinates Demand A (8,6) 10 B (4,12) 15 C (3,2) 10 D (9,6) 6 1.Using the data in the table above, identify an optimal location for the new facility.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
A single facility is needed to meet the demands of four markets. The locations and demands of
these four markets are shown below.
|
Market |
Coordinates |
Demand |
|
A |
(8,6) |
10 |
|
B |
(4,12) |
15 |
|
C |
(3,2) |
10 |
|
D |
(9,6) |
6 |
1.Using the data in the table above, identify an optimal location for the new facility.
2. A manufacturing firm is considering three potential locations for a new parts manufacturing facility. A
consulting firm has assessed three sites based on the four factors supplied by management as critical to
the location's success. Management-supplied the factor weights and the consultant team scores as seen as in the table below. Scores are based on 50 = best.
|
|
|
Location |
||
|
Factor |
Weight |
A |
B |
C |
|
Labour climate |
10 |
35 |
45 |
20 |
|
taxes |
30 |
30 |
40 |
40 |
|
utilities |
20 |
25 |
20 |
45 |
|
wages |
40 |
10 |
25 |
25 |
Which location should be selected and why?
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