THE IMPACT OF SALES SERVICE IN MAREA TRADING SIMULATION UNDER CHANGING ENVIRONMENT CIRCUMSTANCES
Roman Sperka () and
Michal Halaska ()
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Roman Sperka: Silesian University in Opava Schoool of business Administration in Karvina, Czechia
Michal Halaska: Silesian University in Opava Schoool of business Administration in Karvina, Czechia
Equilibrium. Quarterly Journal of Economics and Economic Policy, 2017, vol. 12, issue 2, 355-371
Research background: Managerial scientists use a lot of modelling techniques for business processes. In this paper we are focused on agent-based modelling and simulations, which emerged in the last two decades as a new approach. Autonomous and interacting intelligent agents are able to model and simulate complex systems in the business sphere. With the use of agent-based modelling and simulations we are able to understand how macro level outcomes are affected by micro level processes and vice versa. Purpose of the article: The purpose of the paper is to introduce recent development in the area of agent-based modelling and simulations focused on the business domain. Managers often have to make difficult decisions under the uncertainty and high risks. Agent-based modelling can provide powerful tools for lowering those risks through a possibility of running experiments, which is normally impossible in economics. In the second part we want to support the usefulness of agent-based simulations with our own simulations. Methods: The method used in this article is an agent-based simulation in a multi-agent system. We use a framework called MAREA. It is a simulation environment with integrated ERP system based on REA ontology. Our simulation model is based on a retail company that sells electronics. For simplicity, in our setup we trade with computer cables. Findings & Value added: In our simulations we experimented with the quality of sales service provided by company’s sales representatives. We investigated the impact of quality of sales service on company KPIs under the changing environment circumstances represented by disturbance agent. The quality of sales service is a part of quality of service and thus it affects the perception of brand and loyalty of customers towards the company. In our simulation setup we work with two types of customers, long-term customers and new ones. The result is that quality of sales service has mostly positive effects on company KPIs.
Keywords: multi-agent system; simulation; model; trading; MAREA (search for similar items in EconPapers)
JEL-codes: F1 F3 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pes:ierequ:v:12:y:2017:i:2:p:355-371
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