Answered step by step
Verified Expert Solution
Question
1 Approved Answer
balancing-loop Your challenge: Come up with a scenario in business where product/service quantity/quality shows a gap between the desired level and the actual level. Corrective
balancing-loop Your challenge: Come up with a scenario in business where product/service quantity/quality shows a gap between the desired level and the actual level. Corrective measures will be taken to reach the desired target. However, there are implementation or delivery delays. Your scenario should be as close to a real world problem as possible. Example: Inventory Management. You have a desired safety stock level, say 80 units. But the current inventory is only 50 units. If you use an "action-factor" of 0.5 and a "delay" of 2 days. It will take you nearly 80 days to have the system stabilized at the 80 units level, as shown in the picture above. Modify the current the program interface: Right click on a slider, say, "desired", you will be able to select "Edit" and change the parameters to meet your need. For example, if you are desiring 50% market share, the range of "desired market" could be 0.0 to 1.0. Then, of course, your "current" market must be in the range of 0.0 and 1.0. (Perhaps for antitrust reasons, we don't want to have the market share to be too high) Run the simulation with various parameter settings in your chosen scenario
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started