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Advantages of Simulation
1) It can be used in areas where analytical techniques are not available or would be too complex.
2) Constructing the model inevitably must involve management and this may enable a deeper insight to be obtained into a problem.
3) A well-constructed model enables the results of various policies and decisions to be examined without any irreversible commitments being made.
4) Simulation is a cheaper and less risky than altering the real system.
5) Can be used for training decision makers.
costs/per unit labor ... $ 4 materials ...5 fixed cost... $ 12 determine the break even point in units if the seeling price is $ 19 determine the break even point in sales at
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
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Criticism of Material Requirement Planning
School problem is asking to calculate the work in progress inventory for the beginning of a month without providing previous month data.
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