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Advantage of Least Cost Method
a. This method provides accurate solution as transportation cost is consider while making allocation.
b. It is very simple and easy to calculate optimum solution under this method.
Disadvantage of Least Cost Method
a. This method does not follow steps by step rule for obtaining optimal solution ,
b. This method is based on the selection through personnel observation when three is a tie in the minimum cost it does not follow any systematic rule.
What are major and minor decisions? Decision with regard to financial outlay can be minor or major. A decision concerned to the purchase of a CNC machine costing several lakhs
Is and Why Conflict often contributes to effective decision making? Is an why Intuition is a valid approach to decision making in the work place?
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