The Centre of Gravity Method Is Useful in Location Planning

question 50

True/False

The centre of gravity method is useful in location planning for the location of a distribution centre.

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Definitions:

Demand Curve

A graph that shows the relationship between the price of a good or service and the quantity demanded by consumers.

Transportation Model

An optimization algorithm used in logistics and operations research to minimize the costs of distributing products across various locations.

Linear Programming

A mathematical technique used to achieve the best outcome (such as maximum profit or lowest cost) in a model with linear relationships.

Regular Employment

Employment characterized by a long-term contractual relationship between the employee and employer, often including benefits and job security.