Design, Analysis and Optimization of Supply Chains

Chapter 5

Using System Dynamics to Estimate Reductions in Life-Cycle Costs Arising From Investments in Improved Reliability

Introduction

“Doing more with less” has become a long-running and recurring theme across the globe. Companies, government agencies, and even charities are being forced to deliver higher performance with reduced funding and capital.¹ This challenge is especially acute for the U.S. Department of Defense and the branches of the armed services where demands are great and budgets are tight. As long ago as 1995, Dr. Paul Kaminsky, then the Under Secretary of Defense for Acquisition and Technology, stated that a key goal “is a simple one of trying to do more with less.”² This objective has steadily become more critical over the ...