Part 1 http://www.forbes.com/sites/gregsatell/2013/07/15/why-the-future-of-innov
ID: 407725 • Letter: P
Question
Part 1
http://www.forbes.com/sites/gregsatell/2013/07/15/why-the-future-of-innovation-is-simulation/#4d618a8e29fd
Read the article by Satell (2013) entitled “Why The Future of Innovation Is Simulation.” Based on this article and additional reading and knowledge, answer the following questions:in about 200 words
Under what conditions would you choose to use a simulation model?
What is the simulation process?
Explain the pros and cons of using simulation modeling
Part 2
In today’s fast-paced environment, individuals are continually trying to do more with the same limited time constraints. In a retail store like Wal-Mart, explain how components of queuing systems can influence customer satisfaction or dissatisfaction. How might the queuing process positively or negatively impact customer loyalty?in about 200 words
Explanation / Answer
Part 1:
Simulation
Simulation refers to the operation of real time processes over time. In this system a model is developed which is similar to the real time and the testing is carried out on the same.
Process
It is used in project management, construction engineering, manufacturing applications, logistics, healthcare, supply chain and distribution channels, risk analysis, insurance portfolio, and in various other sectors. The types of models developed range from active models, interactive models to computer simulators. Thus it focuses on specific tasks and helps the learner in understanding the key concepts for which the model is developed.
As we see artificial intelligence is catching pace, simulation aims at building a model that demonstrates the effective use of time in these processes. This model can be used for research and analysis purposes and investigates into a variety of what-if questions. There are different types of models developed like mathematical model, probability theory model, algebraic model, etc. The results given by these models are accurate and they work on the set of parameters. It can be used to solve complex system issues. The rise in technology has made model creation simpler these days than the earlier times,
Pros & Cons
Thus the new operations can be explored without disturbing the set up of the existing systems.
New designs, hardware layouts and even transportation systems are checked without the commitment of resources for its acquisition.
Useful for disaster preparedness, economics and Finance, payment and securities settlement systems, robotics, sports, space shuttle countdown, weather and satellite navigation.
Cons
Huge capital outlay is required to set up the models.
The results have to be further analyzed and studied and it might even take years to convert the model into a real time process.
There has to be a virtual safe environment for the testing and the adequate time for its development has to be given.
Part 2:
Queuing Systems
In today's fast moving world where everyone is running for money, it is often found frustrating and irritating to wait in long queues at hospitals or banks or government agencies. People expect that they should be attended well and on time. Thus the concept of queuing system has evolved.
Process
Queues can be of two types. Structured queues as seen at an airport or supermarket where people stand in a fixed and predictable position. Unstructured queues are unpredictable and spread in different directions and locations as seen at an ATM or taxi queues etc.
There are people counting censors at the entrance. After which there is allocation and direction of the customers to the appropriate centers. Queue behavior refers to the actions of the customers while waiting in the queue. Queue discipline refers to the preference given to the customers for choosing when the server is free to provide the next service. Methods like FIFO , LIFO, STP, SIRO etc. are used.
A queuing management system is formulated after consideration of factors like calling population, arrival rate, service mechanism, system capacity and queuing discipline.
The queuing population refers to the potential expected customers and their behavior. The other factors like unlimited capacity, customer arrivals, etc are also considered.
Pros & Cons
The advantages of this system are as follows:
It helps in the planning and allocation of resources
Aims at providing the best services to the customers with the most optimum utilization of resources.
The waiting time of the customers is managed efficiently.
Cons
Establishment of the systems is costly.
Computer operators must be trained for using the systems
It becomes difficult to debug the system in case of emergency.
If there is an error in one job then all the other processes will have to wait.