Center-of-gravity as streamlined quantitative framework

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Reference no: EM133620200

Question

Introduce the center-of-gravity as a streamlined quantitative framework used to assess various site locations with the goal of determining the optimal site for a single facility. This method considers factors such as facility and market locations, demand, and transportation costs. Instead of focusing solely on geographical centrality, this approach considers both distance and demand between the facility and consumers. The center of gravity is defined as the point that minimizes the weighted distance between the facility and its supply and demand locations.

Reference no: EM133620200

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