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Least Cost Method | LCM Method | Transportation Problems | Operation Research.
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The Least Cost Method is another method used to obtain the initial feasible solution for the transportation problem. Here, the allocation begins with the cell which has the minimum cost. The lower cost cells are chosen over the higher-cost cell with the objective to have the least cost of transportation.
The Least Cost Method is considered to produce more optimal results than the North-west Corner because it considers the shipping cost while making the allocation, whereas the North-West corner method only considers the availability and supply requirement and allocation begin with the extreme left corner, irrespective of the shipping cost.
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