This hands-on course on computer simulation of
business, service, and manufacturing systems (that are subject to uncertainty
or risk) takes the perspective of the consultant whose job is to analyze
stochastic decision problems by building a simulation model and using it to
understand the behavior of the system and explore the effects of alternative
decisions. Two modeling methodologies will be presented: 1) Models, both static
and dynamic, that can be implemented as mathematical expressions in a spreadsheet;
and 2) discrete-event models that utilize the event scheduling formalism.
@Risk, from Palisade Corporation, is the tool that will be used to demonstrate
how to build and execute spreadsheet simulation and Arena, from Rockwell
Software, is the tool that will be used to demonstrate how to build
discrete-event simulation models for service and manufacturing applications.
Upon completion of the course students will be able to carry out the entire
process of designing the model, implementing it in the appropriate software,
executing the simulation, collecting and analyzing output data, and using the
results of the analysis to evaluate alternative decisions.
Lecture: 100min/wk and Recitation: 50min/wk