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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Quantitative analysis-Discussion (2)

Quantitative analysis-Discussion (2)

Q Why might a manager be forced to use simulation instead of an analytical model in dealing with a problem of the following: (include minimum of three reasons per scenario) (a) inventory ordering policy? (b) ships docking in a port to unload? (c) bank teller service windows? (d) the U.S. economy?

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The simulation is a process where the real world situation has been predicted using the mathematical process. The method of simulation has been used in the various business and operations sector (Render, 2018). The following four cases indicate why simulation is a needed process in decision making: (a) inventory ordering policy? The simulation provides the cost optimization of the resources. It gives a direction about future goals. It identifies the flaws if any in the current operations by comparing the simulation data with the operational data (SalahUddin, Nipa & Rume, 2015).