Location of retail facilities under conditions of uncertainty

Location of retail facilities under conditions of uncertainty

0.00 Avg rating0 Votes
Article ID: iaor200971078
Country: Germany
Volume: 167
Issue: 1
Start Page Number: 107
End Page Number: 120
Publication Date: Mar 2009
Journal: Annals of Operations Research
Authors:
Keywords: location
Abstract:

Models for the optimal location of retail facilities are typically premised on current market conditions. In this paper we incorporate future market conditions into the model for the location of a retail facility. Future market conditions are analyzed as a set of possible scenarios. We analyze the problem of finding the best location for a new retail facility such that the market share captured at that location is as close to the maximum as possible regardless of the future scenario. The objective is the minimax regret which is widely used in decision analysis. To illustrate the models an example problem is analyzed and solved in detail.

Reviews

Required fields are marked *. Your email address will not be published.