To determine the best site to open a new milk processing plant using the factor rating method, follow these steps:

1. Identify the Factors: List down all the factors that are important in the decision-making process. These could include cost of land, availability of raw materials (milk), proximity to market, availability of labor, transportation costs, etc.

2. Assign Weights: Assign a weight to each factor based on its importance. The total of all weights should be 1. For example, if cost of land is the most important factor, it might be assigned a weight of 0.3.

3. Rate Sites: Rate each potential site on each factor on a scale of 1 to 10 (10 being the best).

4. Multiply: Multiply the rating for each factor by the weight of that factor.

5. Sum Up: Add up the weighted scores for each site.

6. Choose the Best: The site with the highest total score is the best site to open a new milk processing plant.

Remember, the factor rating method is a quantitative decision-making tool and it should be used in conjunction with qualitative judgement.

Question

To determine the best site to open a new milk processing plant using the factor rating method, follow these steps:

1. Identify the Factors: List down all the factors that are important in the decision-making process. These could include cost of land, availability of raw materials (milk), proximity to market, availability of labor, transportation costs, etc.

2. Assign Weights: Assign a weight to each factor based on its importance. The total of all weights should be 1. For example, if cost of land is the most important factor, it might be assigned a weight of 0.3.

3. Rate Sites: Rate each potential site on each factor on a scale of 1 to 10 (10 being the best).

4. Multiply: Multiply the rating for each factor by the weight of that factor.

5. Sum Up: Add up the weighted scores for each site.

6. Choose the Best: The site with the highest total score is the best site to open a new milk processing plant.

Remember, the factor rating method is a quantitative decision-making tool and it should be used in conjunction with qualitative judgement.

Knowee AI · Accepted Answer

To determine the best site to open a new milk processing plant using the factor rating method, follow these steps:

1. Identify the Factors: List down all the factors that are important in the decision-making process. These could include cost of land, availability of raw materials (milk), proximity to market, availability of labor, transportation costs, etc.

2. Assign Weights: Assign a weight to each factor based on its importance. The total of all weights should be 1. For example, if cost of land is the most important factor, it might be assigned a weight of 0.3.

3. Rate Sites: Rate each potential site on each factor on a scale of 1 to 10 (10 being the best).

4. Multiply: Multiply the rating for each factor by the weight of that factor.

5. Sum Up: Add up the weighted scores for each site.

6. Choose the Best: The site with the highest total score is the best site to open a new milk processing plant.

Remember, the factor rating method is a quantitative decision-making tool and it should be used in conjunction with qualitative judgement.

Using the factor rating method, the best site to open a new milk processing plant is

Question

Using the factor rating method, the best site to open a new milk processing plant is

Solution

Similar Questions

Upgrade your grade with Knowee