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What are the advantage and disadvantage of Vogel's approximation method VAM?
Wiki User
∙ 11y ago
VAM is an improved version of the least-cost method that generally, but not always, produces better starting solutions. VAM is based upon the concept of minimizing opportunity (or penalty) costs. The opportunity cost for a given supply row or demand column is defined as the difference between the lowest cost and the next lowest cost alternative. This method is preferred over the methods discussed above because it generally yields, an optimum, or close to optimum, starting solutions. Consequently, if we use the initial solution obtained by VAM and proceed to solve for the optimum solution, the amount of time required to arrive at the optimum solution is greatly reduced.
Wiki User
∙ 11y ago
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