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The minimax facility location problem seeks a location which minimizes the maximum distance to the sites, where the distance from one point to the sites is the distance from the point to its nearest site. A formal definition is as follows: Given a point set P ⊂ , find a point set S ⊂ , |S| = k, so that maxp ∈ P(minq ∈ S(d (p, q)) ) is ...
A facility location problem is the problem of deciding where a given public facility (e.g. a school or a power station) should be placed. This problem has been studied from various angles. Optimal facility location is an optimization problem: deciding where to place the facility in order to minimize transportation costs while considering ...
A geographic information system ( GIS) consists of integrated computer hardware and software that store, manage, analyze, edit, output, and visualize geographic data. [1] [2] Much of this often happens within a spatial database; however, this is not essential to meet the definition of a GIS. [1] In a broader sense, one may consider such a ...
Vendor-managed inventory ( VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the ...
Data Warehouse and Data mart overview, with Data Marts shown in the top right.. In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for reporting and data analysis and is considered a core component of business intelligence.
Inventory control is the process of managing stock once it arrives at a warehouse, store or other storage location. It is solely concerned with regulating what is already present, and involves planning for sales and stock-outs, optimizing inventory for maximum benefit and preventing the pile-up of dead stock.
Huff model. In spatial analysis, the Huff model is a widely used tool for predicting the probability of a consumer visiting a site, as a function of the distance of the site, its attractiveness, and the relative attractiveness of alternatives. It was formulated by David Huff in 1963. [1]
Visual merchandising is the practice in the retail industry of optimizing the presentation of products and services to better highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase. [1] [2]