Simulation and Modelling
Simulation and Modelling
Advantages of Simulation
1. Detailed Analysis
2. Increased Productivity
3. Design Optimization
4. Risk-Free
5. Cost Savings
Disadvantages of Simulation
1. Expensive and Time-Consuming
2. Limited Flexibility
3. Limited Accuracy
4. Not Always Useful
5. Difficulty in Interpreting the Results
Flextime is an arrangement that allows an employee to alter the starting and/or end time of
her/his workday. Employees still work the same number of scheduled hours as they would
under a traditional schedule. It is also a flexible work option for positions that do not easily
support remote work.
A stochastic simulation is a simulation of a system that has variables that can change
stochastically (randomly) with individual probabilities. Realizations of these random
variables are generated and inserted into a model of the system. Outputs of the model are
recorded, and then the process is repeated with a new set of random values. These steps are
repeated until a sufficient amount of data is gathered. In the end, the distribution of the
outputs shows the most probable estimates as well as a frame of expectations regarding what
ranges of values the variables are more or less likely to fall in.
g What is meant by resource allocation?
Resource allocation is the process of assigning and managing assets in a manner that supports
an organization's strategic planning goals. Resource allocation includes managing tangible
assets such as hardware to make the best use of softer assets such as human capital. Resource
allocation involves balancing competing needs and priorities, and determining the best course
of action to maximize the use of limited resources and get the best return on investment.
Blocks describe the course of Transactions, their behavior in time, their temporal assignment
to model elements like Facilities, Queues, Storages and User Chains. Blocks assign values
during the simulation run and control the collection of statistical result data.
2. a what do you mean by System modeling? What are the steps used in modeling?
Explain with an Example
Systemmodelingistheprocessofdevelopingabstractmodelsofasystem,witheachmodelpresentinga
differentvieworperspectiveofthatsystem.•Systemmodelingmayrepresentasystemusinggraphicaln
otation,e.g.theUnifiedModelingLanguage(UML).•Systemmodellinghelpstheanalysttounderstan
dthefunctionalityofthesystemandmodelsareusedtocommunicatewithcustomers.