SUNConferences, 27th Annual Conference of the SA Institute for Industrial Engineering

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AN EVALUATION AND COMPARISON OF BUSINESS SIMULATION SOFTWARE
Jacobus Krige Visser

Last modified: 2016-10-05

Abstract


Various simulation programs are available today to perform business related simulation. A simulation model is useful for making decisions, e.g. in project, maintenance and operations management, or to understand the dynamic behaviour of business systems. This paper presents the results of a project to evaluate and compare a number of simulation programs. The output of four Monte Carlo simulation programs and two discrete event simulation programs were evaluated with the same input data and number of trials. The difference in output from the four simulation programs was found to be quite small. Engineers and managers can therefore use any these programs with confidence for similar type of problems as investigated in this study.

Keywords


Project Management, Reliability Engineering, Simulation