Which Method helps in selecting the best location which is finalised from the shortlisted ones? ans. Weighted Factor Rating Method Load Distance Method Simple Median Model Factor Rating System Previous

For selecting a location the _____ serves a solution as it minimises the distance between the facility and for future existing location. ans. Minimax Location Model Load Distance Method Weighted Factor Rating Method Transportation Problem

When various alternatives for the location are compared in terms of cost & volume then which method is followed? ans. Centroid Method Break Even Analysis Factor Rating System Minimax Model

When using the factor-rating method to assist in a decision-making process, it is important to assign weights to each criterion beforescoring the supplier options, thereby eliminating possible manipulation of the process.

If you are involved in a team that is using the factor-rating method to make a decision, make sure that criteria weights are set before rating each supplier (or decision) option so that  The process cannot be manipulated The process remains more objective Hidden agendas are held at bay All of the above

A major problem in a plant location decision based on the factor-rating system is that simple point-rating schemes do not account for the wide variance of costs that may occur within each factor used in the analysis.Question 33Answera.TRUEb.FALSE