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Business/Investing Dynamic Modeling for Business Management: An Introduction (Repost)
Posted on 2010-03-16
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More Dynamic Modeling for Business Management Dynamic Modeling for Business Management is an excellent reference book for business and industrial engineer students and practitioners. The book provides explanations and examples for adding dynamics to some of the basic business systems and processes. The mathematical models introduced in operations research and management science courses have very restrictive assumptions. Simulation allows exploring more realistic models and enables the reader the appreciation the value of adding more realism of systems by having the capability of more realistic properties and feedback mechanisms. An example is waiting lines. In most real situations, the service rate is affected by the current length of the waiting line. Queuing models ignore this. Using simulation, you can model the results of these interdependencies.
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