Course description

Business Simulation Analysis

Introduction

The course objective is to familiarize the students with computer-based simulation methodologies and tools used in business settings characterized by uncertainties. The course will utilise both lectures and exercises.

Course content

The course participants will learn how to model various systems, and study the effect on changes and uncertainties on the system in order to identify bottlenecks and improvements areas. Examples of simulations application areas include inventory and transportation systems, production environment, investments evaluation, queuing systems etc.  The course will focus on modelling and analyzing systems using Discrete Event Simulations and Random event generators (Monte-Carlo simulations). The students will exercise on using simulation tools and on interpreting and presenting the results.

Learning outcome knowledge

  • Knowledge of discrete-event simulation methodology and relevant background theories
  • Knowledge of Monte-Carlo simulation methodology and relevant background theories

Exam organisation

  • Written assignment: 20%
  • Presentation: 10%
  • Written assignment: 70%