APPLYING MONTE CARLO SIMULATION AND RISK ANALYSIS TO THE FACILITY LOCATION PROBLEM

Justin Ridlehoover

28 citations0/0 files storedThe Engineering Economist

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Facility Location and Emergency Management Supply Chain and Inventory Management Capital Investment and Risk Analysis

Abstract

Facility location problems have become a more strategic decision than just finding the lowest cost space to house a company's product. When choosing the placement of a distribution center, a company must weigh the new freight costs and the cost of a new or leased structure against its necessary service levels, as well as several other factors. Companies can also save on logistics costs in choosing the correct location by incorporating the inherent risk and variability that are involved in a facility location decision. However, in reality, most companies do not analytically consider risk and variability in choosing a location. This article presents a methodology to help determine candidate locations and then conduct a financial risk analysis to determine the ideal location of a new facility.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 28 citations exist upstream.

References

1983Simulation Modeling and Analysis.1999Simulation modeling and analysis 1992Making Hard Decisions, an Introduction to Decision Analysis 1998Strategic facility location: A review 2005Reliability Models for Facility Location: The Expected Failure Cost Case 1999Transportation Science 1998Integrating inventory impacts into a fixed-charge model for locating distribution centers

Cited by

2009The design of robust value-creating supply chain networks: A critical review 2017Monte Carlo Simulation–Based Assessment of Risks Associated with Public–Private Partnership Investments in Toll Highway Infrastructure 2016SIMULATION DECOMPOSITION: NEW APPROACH FOR BETTER SIMULATION ANALYSIS OF MULTI-VARIABLE INVESTMENT PROJECTS 2013Life Cycle Costing: Maintenance and Repair Costs of Hospital Facilities Using Monte Carlo Simulation 2014Autonomy in Collaborative Manufacturing Networks

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.