A Metal Manufacturing Mill Uses Discrete-Event Simulation to Optimise Operations
Journal Title: European Journal of Economic and Business - Year 2016, Vol 1, Issue 1
Abstract
Simulation modeling is an important technique from mathematics and engineering for planning, implementing, and operating complex technical systems. We modeled the manufacturing operations of a local metal mill company to answer questions related to shorter product life cycle, identifying system bottlenecks, short-term budgeting, scheduling and other key decisions that may have a direct impact on revenues and costs of the company. We attempt to solve this problem using multi-method simulation modeling software, AnyLogic®, which allows room to accommodate higher levels of abstraction, thereby providing space to further extend this model for a multi-method simulation.
Authors and Affiliations
Lorena Mathien, Pavan Kumar Narayanan
STATE OF LOGISTICS OUTSOURCING RESEARCH
The third and fourth party logistics (3PL and 4PL™) industry have been growing and maturing in practice in recent years; however, academic research is in the incipient stage and is lagging behind industry practices. Res...
A Study on Impact of Gold Prices and Dollar Prices on Stock Market Indices with Special Reference to Sensex Nifty.
The research has been under taken to know the effect of gold prices and dollar prices on the stock exchange indices. For the purpose of study secondary data for 3 years have been collected from 2011 to 2014. Average of o...
Structural Factors and Budget Deficits in Nigeria
From records, many studies on public finance emphasis the problems of the Nigerian economy with focus on the revenue side of the budget scrutinizing various ways of/ and means to improve on receipts. This paper has attem...
Latent Class Analysis for Reliable Measure of Inflation Expectation in the Indian Public.
The main aim of this article is to inspect the properties of survey based on household inflation expectations, conducted by Reserve Bank of India (RBI). It is theorised that the respondent’s answers are exaggerated by ex...
A Metal Manufacturing Mill Uses Discrete-Event Simulation to Optimise Operations
Simulation modeling is an important technique from mathematics and engineering for planning, implementing, and operating complex technical systems. We modeled the manufacturing operations of a local metal mill company to...