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Dynamic Modeling for Business Management: An Introduction (Modeling Dynamic Systems)
Product Description Dynamic Modeling for Business Management applies dynamic modeling to business management, using accessible modeling techniques that are demonstrated starting with fundamental processes and advancing to more complex business models. Discussions of modeling emphasize its practical use for decision making and implementing change for measurable results. Readers will learn about both manufacturing and service-oriented business processes using hands-on lessons. They will then be able to manipulate additional models to try out their knowledge and address issues specific to their own businesses and interests. All of the models used in the book along with demo versions of ithink® and Berkeley Madonna software are included with the book on a CD-ROM. Some of the topics covered include workflow management, supply-chain management, and business strategy. Book Info Text demonstrates dynamic modeling techniques, beginning with fundamental processes and advancing to more complex business models. Models used in the text, along with demo versions of ithink and Berkeley Madonna software, are included on the companion CD-ROM. For students and professionals. DLC: Management--Mathematical models. Reader Reviews This is an excellent textbook for an upper-level undergraduate or graduate course in business simulation modeling. It might also be useful in an engineering course on simulation modeling, especially in more applied areas like industrial engineering. I find the book more accessible, if not as complete, than Sterman's text. By adopting a "hand's on" approach and using the i-Think modeling software, I believe students will also find the concepts more accessible. For users of i-Think, this text has some excellent examples of how the software can be used to model specific manufacturing and supply chain business problems. Even if you aren't an i-Think user (it isn't my first choice) you will still find a lot of practical modeling advice. The math is solid, and there is an interesting twist on Little's Law. For those new to stochastic modeling, the section on modeling random variation is priceless. It takes the reader through the most useful modeling distributions and is a wonderful blend of mathematics and applied modeling. My only negative comments relate to the meager section on Economic Value Added (which should have been more fully developed and moved into the main body of the text--in my opinion), and the selection of software (no offense to the i-Think users, but I think there are better tools for general business simulation modeling. Though maybe not for dynamic modeling--so I temper my criticism.) In short, this is an excellent entry point for the reader who wants a solid introduction to dynamic systems and their specific application to business. Comment | | (Report this)
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