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Logistics List and describe the different types of modeling approaches that may be used to gain insight into supply chain network design and facility location decision making.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Logistics
List and describe the different types of modeling
approaches that may be used to gain insight into supply
chain network design and facility location decision
making.

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Step 1: Introduce the concept of modeling approaches

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Step 2: Understand the Objectives:

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Step 3: Determine Data Collection:

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Step 4: Identify Mathematical Models

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Step 5: understand the Build the model

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Step 6: Solve the Model:

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