Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Module F Simulation

Alaska Airlines

Module Outline

1. What Is Simulation? 792

2. Advantages and Disadvantages of Simulation 793

3. Monte Carlo Simulation 794

4. Simulation with Two Decision Variables: An Inventory Example 797

Learning Objectives

1. LO F.1 List the advantages and disadvantages of modeling with simulation 793

2. LO F.2 Perform the five steps in a Monte Carlo simulation 794

3. LO F.3 Simulate an inventory problem 798

4. LO F.4 Use Excel spreadsheets to create a simulation 800

When Bay Medical Center faced severe overcrowding at its outpatient ...