Study of Factors and Market Layout Using the Analytic Hierarchy Process and Monte Carlo Simulation: A Comparative Study Between Private and Public Markets
Keywords:
Analytic Hierarchy Process, Monte Carlo Simulation, Food-Safety Market LayoutAbstract
The aim of this research is to analyze factors related to food-safety market layout by using the Analytic Hierarchy Process (AHP) technique and to examine performance of designed layouts with simulated walking distance and a number of open stores by using Monte Carlo Simulation Technique. Initially, factors relating to the fresh market layout from consumers, vendors, and policy makers of case-study markets supervised by the public and private sectors in Ubon Ratchathani province are evaluated. Then, the fresh market layouts are designed with three concepts and are evaluated for performance using simulated walking distance of the consumers to make a comparative efficiency among designed concepts. Our analyses show that whereas consumers value the importance of building and location factor the most, vendors prefer higher emphasis in rental-and-value factor. Moreover, policymakers are more interested in factor related to good market practice, with 24.80 %, 54.89 % and 50.20 %, respectively. The simulation results also show that designing market layout according to the consumers’ behavior has increased an efficiency for 10.5 percent.
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