Krajewski IN Supplement B - Supplement B Simulation A....

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Supplement B Simulation A. Reasons for Using Simulation Simulation is useful when waiting-line models become too complex. Using simulation for analyzing processes may be based on other reasons. 1. when the relationship between variables is nonlinear or when the situation involves too many variables or constraints to handle with optimizing approaches, simulation models can be used to estimate operating characteristics or objective function values and analyze a problem 2. used to conduct experiments without disrupting real systems 3. used to obtain operating characteristic estimates in much less time (this is called time compression) 4. simulation is useful in sharpening managerial decision-making skills through gaming B. The Simulation Process This process is known as Monte Carlo simulation , after the European gambling capital, because of the random numbers used to generate the simulation events 1. Data collection a. Costs b. Productivities c. Capacities d. Probability distributions e. Demonstrate with
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This note was uploaded on 12/19/2009 for the course MANAGEMENT 00123 taught by Professor Ahmed during the Spring '09 term at Albany College of Pharmacy and Health Sciences.

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Krajewski IN Supplement B - Supplement B Simulation A....

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