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Produce a type written Report which should contain the following: Task 1: Formulation of the Problems: Use a general system scenario as a generic description of a type of real system. Set the problems that require the construction of ANALYTICAL (Mathematical) and SIMULATION models. FOR THE SIMULATION - SYSTEM DYNAMICS MODELLING USING STOCK& FLOW DIAGRAM SHOULD BE USED (STELLA SOFTWARE should be used) Problems must require MANAGERIAL DECISIONS. Produce a description of your specific scenarios in relation to each problem and aim. Write a paragraph explaining the problems you have been set. Write about the kind of questions that you are going to answer – be explicit. Write a succinct statement for each problem. You need to provide: Clear explanation of a rationale of the application of the SYSTEM DYNAMICS method to the selected problem Description and representation of basic concepts in relation to the selected problem Clear explanation of Key Aspects of System Dynamics modelling Representation of the System Dynamics Diagrams Critical discussions of the application of the System Dynamics method to the selected 
problem 
 Task 2: Use the model-building process discussed in lectures to analyze your scenario and problems to be solved. FOR THE MATHEMATICAL (ANALYTICAL): QUEUING PROBLEMS- QUEUING MODEL (unit7) or INVENTORY PROBLEMS- INVENTORY MODEL (unit 8) or LINEAR PROGRAMMING PROBLEMS- LINEAR PROGRAMMING MODEL (unit 6) should be used! Using the process you need to Identify the decision variables Formulate the objective function/aim(s) Formulate the constraint set Formulate the assumption set 
before formulating the models. 
Task 3: Construct the simple analytical model
 Task 4: Analyze and solve the simple analytical model Task 5: Critically evaluate the simple analytical model Task 6: Construct the revised analytical model and solution Task 7: Critically evaluate the revised analytical model
 Task 8: Construct the simulation model
 Task 9: Critically evaluate the simulation model
 Task 10: Produce a conclusion which briefly summarizes the overall discussions. Use references for cited works. Add APPENDIXES, if you wish to use diagrams, any further details to support your discussions/explanations. There are a total of 100 possible marks in this assignment. Your work shall be graded for originality as well as for accuracy. You are expected to hand in: Report should be typed in English in Times New Roman font, 11 point. Excluding the appendixes, title page and list of references, the report should be between 4 and 6 sides of single spaced A4 text. Note: for any handins over 6 pages, only the first 6 pages will be assessed. All the necessary documents are uploaded and assignment guidelines and instructions should be followed accordingly

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More Decision Support for Management: Questions & Answers

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Business Management

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Swimmingpool Co Pty Ltd employs Martin as the manager of their Tasmanian sales division. Martin is to quote to potential customers the cost of installing the various pools that the company offers, to draw up any new contracts on behalf of the company and further to ensure that a deposit is paid by p ...

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