Simulation as a Business Decision Making Tool. A Case Study

Authors

  • Julio César Puche Regaliza Departamento de Economía Aplicada Facultad de Ciencias Económicas y Empresariales Universidad de Burgos
  • José Costas Gual Escola Superior de Ciências Empresariais Instituto Politécnico de Viana do Castelo
  • Pablo Arranz Val Departamento de Economía Aplicada Facultad de Ciencias Económicas y Empresariales Universidad de Burgos

DOI:

https://doi.org/10.46661/revmetodoscuanteconempresa.2259

Keywords:

Toma de decisiones, simulación discreta, lean manufacturing, decision making, discrete simulation

Abstract

Business decision making is a critical factor to the viability of companies. In the current more dynamic, global and competitive scenario, this critical factor opens space to wider requirements. Modeling and simulation have traditionally formed a substantial part of the toolkit used to support decision making, especially in the business strategy field. In this paper, our aim is to open a clear perspective on the added value offered by simulation. We first introduce an overview about the process of decision making based on simulation. Next, a case study is developed, in which such steps are reflected to decide whether to implement a PUSH behavior or a PULL behavior in a particular company. The results obtained lead us to the decision to implement PULL instead of PUSH, showing that simulation techniques are a very valuable tool to have in the bank of knowledge in any mature company.

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Published

2016-11-04

How to Cite

Puche Regaliza, J. C., Costas Gual, J., & Arranz Val, P. (2016). Simulation as a Business Decision Making Tool. A Case Study. Journal of Quantitative Methods for Economics and Business Administration, 21, Páginas 188 a 204. https://doi.org/10.46661/revmetodoscuanteconempresa.2259

Issue

Vol. 21 (2016)

Section

Articles

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