People Innovation Excellence

BUSINESS SIMULATION (2 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: Appreciate the interaction between different business areas; Understand the importance of big picture assessment as well as detailed analysis; Apply frameworks learned in several topics (Marketing, Strategy, Finance, Supply Chain, HR, and Accounting) to analyze a realistic business situation; Enhance team-working skills, and in particular how to share the load and to draw on different expertise

Topics:

  1. Basic simulation modeling;
  2. Modeling Complex Systems;
  3. Simulation Software;
  4. Review of Basic Probability and Statistics;
  5. Building Valid, Credible, and Appropriately Detailed Simulation Models;
  6. Selecting Input Probability Distributions;
  7. Random-Number Generators;
  8. Generating Random Variates;
  9. Output Data Analysis for a Single System;
  10. Comparing Alternative System Configurations;
  11. Variance-Reduction Techniques;
  12. Experimental Design and Optimization;
  13. Simulation of Manufacturing Systems

Published at : Updated

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