Vogel’s Approximation Method (VAM) Assignment Help in 5 Easy Steps
Do you know how to practically use Vogel’s Approximation Method to minimize transportation cost? If your answer is no or if you are drowning in an ocean of doubts, we can suggest you a way out. Breathe easy now, that assignment is not as difficult as it appears to be. Well, certainly not for experts in cost accounting field. But the question is, where will you find such an expert? No worries, they are right here, working as Vogel’s Approximation Method (VAM) Assignment Help team for myhomeworkhelp.com.
We’ll explain the topic for you with an introduction and then discuss the actual method.
What is the deal about Vogel’s Approximation Method?
Vogel’s Approximation Method is the procedure used for reducing the cost of transportation from one place to another by interpreting these given transportation costs on a Mathematical table. Here, the columns are used to represent delivery or demand points and the rows represent supply points. This method is thereafter used to draw a feasible solution for transportation of goods, where the solution is either optimal or nearly optimal.
Now, students might wonder, how to implement VAM? Well, it is to be done in the following five steps:
1. Identify the minimum and next to minimum transportation cost for each row and column.
2. Find out the differences between the two transportation costs identified for each row and column. The result needs to be positive.
3. Figure out the maximum difference among the columns as well as among rows.
4. Assign all demand units for this minimum number in the column which is exhibiting the maximum difference. Repeat same procedure for rows as well.
5. Remove this particular column and row from the equation and keep repeating the procedure until all demand units are completely filled up.
If you are reading this for the first time, you might be a little confused. If you are already acquainted with this method theoretically, it can still take some time to sink in. In case you are not ready to afford time for trial and error, your best option would be to allow our Vogel’s Approximation Method Homework Help team to take over your assignment.
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