Assessing operational policies

E Stephenson

Omega, 1976, vol. 4, issue 4, 437-446

Abstract: This paper demonstrates the value and use of continuous simulation as a means of assessing operational policies prior to their implementation. Using as an example the production and employment system of a firm producing specialist pumps to order, it is shown that such assessments are practical and more likely to yield valid results than the unaided and more intuitive assessment by management. Successful application of the method depends upon the full utilisation of management's knowledge of the system, but the simulation approach used has the advantage that it can be understood, relatively easily, by managers with little, if any, mathematical training.

Date: 1976
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