Discuss advantages and limitations of simulation models

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Reference no: EM131929786

Question: 1. What are the advantages and limitations of simulation models?

2. Why might a manager be forced to use simulation instead of an analytical model in dealing with a problem of

(a) inventory ordering policy?

(b) ships docking in a port to unload?

(d) the U.S. economy?

3. What types of management problems can be solved more easily by using decision modeling techniques other than simulation?

Reference no: EM131929786

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