Bsbwor501 Unit 4

Repeatability: In real life, its difficult repeat the exact circumstances again, so you only get one chance to collect the results and you can’t test different ideas under the exact same circumstances. So how do you know which idea is really the best. With simulation software, you can test the same system again and again with different inputs.

This assignment is written in fulfillment of the MKT/421 class at the University of Phoenix. The assignment calls for covering each of the three major phases in the simulation and to describe:

Rolls Royce has a culture of allowing its engineering staff to develop experimentation and simulation tools within their domain of expertise. Often however, these domain experts are not experienced programmers and the tools the engineers develop are used by only a few people within that domain. Peters team takes these tools, improves the code, making the tools more robust, and most importantly from a simulation point of view, making the different tools talk to each other in whole system simulation software.

The strategy I chose for the simulation is “Niche Cost Leader." First, with the key focus being value, this strategy will challenge me to keep costs at a minimum and force me to streamline overall costs to produce a valuable commodity that, in turn, will generate financial success that can be shared with internal and external stakeholders. Second, as the success of this strategy primarily relies on the existing product line being prosperous, I will be able to practice and hone my forecasting skills based on one product. Though I eventually will produce more than one product, most of the simulation will be conducting under making the primary product as successful as it can be, and reliable forecasts are

Developments in technology and process management have resulted in an increase in the number of alternative routes to perform a task. Faced with many options it is important that the best option is chosen. While modelling these possibilities allows for an assessment of their feasibility, at times simple models are not sufficient (Paranjape & Gill, 2010). Systems and processes have random characteristics and are dependent on other processes; this is not always possible to account for with simple models. Simulation tools however offer the functionality to examine the randomness and interdependence simultaneously (Maria, 1997). This is ideal given the uncoordinated behaviour of real-life business environment, and allows the testing of the alternative

The simulation is useful because it evaluates project performance using real criteria, such as the scope, schedule and

Throughout this PLC, I feel that I have expanded my knowledge regarding planning and facilitating simulations. Before this PLC, I had participated in simulations both inside and outside of school, but this was the first simulation I planned and

One of the key reasons why my company TCI was so successful during simulation is because we extremely were data driven. Each quarter, every decision was supported by relevant data and if it wasn’t then the team came to a consensus to not choose that particular option. The concept of 5 why’s played an essential role in our decision-making process, as we wanted to understand the root cause of each problem that occurred during our simulation. Each question asked about a particular decision or problem and why it occurred stimulated constructive debate within the group that led us to making the ideal decision for that respective quarter. Avoiding traps was another aspect that helped us optimize our decision-making process. For example, avoiding

Simulation is a computer process that gives a probable NPV or IRR for a project. All factors that affect the project’s returns are input. The computer then randomly selects one observation from each category. All of the observations are combined and the NPV or IRR is calculated from those figures. Simulation gives a range of outcomes as well as the probability of the outcomes. It provides the total risk level of a project.

The important part of the simulation assignment is what you have learned from it. As such

Parallel Simulation – the auditor must construct a computer simulation that mimics the client’s production programs.

The case also emphasized the importance of coming with factors with factors that justify the need to bring on board the software. These have defined with regard to the people involved, the processes involved, and the technology. With regard to people, it is important to highlight how the software’s

This report will detail the construction of an assembly line simulation within the Witness software package. The simulation will have the following attributes:

The physical adoption of the system and its architecture, and also the evolving working practices within the company were the focus of this stage. The stage was too large to implement in one go, and it was thus split internally into two ‘waves’. The first wave focused on the replacement of legacy systems, and the Shop Floor Data Management (SFDM) which was a new manufacturing execution system was introduced. A Microsoft Dynamics SL pilot project at one of MIE facility served as the definitive conclusion of wave one. The pilot

This report depends on Solid works and its principle highlights which are extremely fundamental, including upsides and downsides of this software.