A Study On Simulation for Supply Chain Management

Subject: Customer Relationship Management

Paper Model: APA

Paper Type: Management

Total Words: 1177

Document Outline

Introduction:

Simulation Model

Benefits of Simulation in Supply Chain:

Optimization and Simulation:


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Supply Chain Management has been given a good amount of attention in the last few decades. The role of supply chain management has been illustrated quite essentially in the business practices for a long time now. The importance of supply chain can be assessed with the business practices based on the competitive advantage of the unique supply chain management. The process of supply chain management is highly based on the decision making process. As other part of business practices urge for the optimization of their systems, similarly the supply chain management thrives for the optimization of the system as well. As the optimization is only possible by evaluating all possible solutions and go for the one with maximum benefit. (CHANG & MAKATSORIS, 2015)

As the company decides for the optimal solution, the execution is as important as the selection of an optimal solution. In the phase of execution, the role of simulation is very important. In cases, where simulation models are used to reproduce a situation, optimal solution can be found through this process

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