Local Store Valuation: A Newly-established Concept Developed from Site-Selection Problem
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Zhiying Chen, Ziye Zhou, XuYUAN
Finding the best site for a local store can be defined as a site-selection problem. Site-selection is a strategic decision that involves several limited criteria with consideration for technical, economic, environmental, and demographic perspectives. The appropriate candidates for site-selection are usually fixed to a few locations. In this paper, we created a brand-new concept, local store valuation, developed furtherly from site-selection problem, specifically, the objective of this problem not only decides for finding the most suitable location, but also provides a score or a ranking for each potential location. Additionally, we initialized a new approach for this problem with the combination of the main methods in the site-selection problem. Manufacture and sales are beneficial from this new approach.
Optimal, Location, Valuation, Ranking, Algorithm