Operations Research, Systems Engineering and Industrial Engineering Commons^™

Increasing Accuracy Of Simulation Modeling Via A Dynamic Modeling Approach, Prasanna Rao Venkateswara Rao

Masters Theses

Simulating processes is a valuable tool which provides in-depth knowledge about overall performance of a system and caters valuable insight on improving processes. Current simulation models are developed and run based on the existing business and operations conditions at the time during which the simulation model is developed. Therefore a simulation run over one year will be based on operational and business conditions defined at the beginning of the run. The results of the simulation therefore are unrealistic, as the actual process will be going through dynamic changes during that given year. In essence the simulation model does not have …