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View Syllabus Outline (4 topics)
Optimization in Logistics & Network Models
1. Transportation Models
Finding the lowest cost allocation to ship goods from multiple origins to multiple destinations:
- Methods for Initial Solution: Northwest Corner, Least Cost, and Vogel’s Approximation Method (VAM).
- Optimal Test: MODI (Modified Distribution) method.
2. Assignment & Network Models
- Hungarian Method: An optimization algorithm used to assign jobs to resources on a 1-to-1 basis.
- Network Models: Shortest Route, Minimum Spanning Tree, and Maximal Flow.