5Simulation-Based Costing
5.1 INTRODUCTION
Systems and enterprises at the most basic level are an integrated composition of elements or subsystems governed by processes that provide a capability to satisfy a stated need (i.e., requirements) or objective. Simulation is an ideal way to analyze these systems because we can model the characteristics of the elements and replicate the processes with logic. Figure 5.1 shows the domains in which engineers use modeling and simulation (M&S) to represent and model their systems. To develop a system or enterprise successfully, you must
Figure 5.1 Types of simulation used in ...
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