Simplicity, totality and change: a logistic viewpoint in inventory management
Abstract This paper demonstrates that even a simplified model works well when the model is revised from time to time. A new type of management problem results: easy-to-create models which cannot be validated.
A Case Study in System Dynamics Optimization
This paper presents the use of optimization as a tool for policy analysis and design in system dynamics models, and presents a demonstration of its use on the ‘project model’ developed by G. P. Richardson and A. L. Pugh III in their book Introduction to System Dynamics Modelling with DYNAMO. The use of optimization to design parameters, table functions and new model structure is shown to produce a very significantly improved performance for this model compared to conventional approaches.
Solving economic optimal control problems with system dynamics
Considering a simple production system, this paper presents an alternative method based on system dynamics for solving economic and managerial optimal control problems. Such an approach can be helpful in cases where the application of the mathematical optimal control theory is impossible or too laborious for planners or decision makers.