On the Uses of Industrial Dynamic Models

David A. Wismer
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David A. Wismer: University of California, Los Angeles, California

Operations Research, 1967, vol. 15, issue 4, 752-767

Abstract: This paper introduces a philosophy of industrial dynamics based on obtaining results in as quick and economical a fashion as possible. This economy is achieved by stating explicitly the objectives expected and tailoring the model toward the achievement of those objectives. Three specific and widely differing uses of a dynamic model are proposed. These are called analysis, feasibility, and control, and are demonstrated in terms of the dynamic model of earnings for a cement company.

Date: 1967
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