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This course will be an introduction to business simulation. The objective of this course is to give a comprehensive treatment of all the important aspects of a simulation study including modeling, model verification, input modeling, random number generators, simulation software, statistical design and analysis of simulation experiments. Every session, the theory will be followed up by extensive hands-on modeling exercises for various business situations.

Simulation while not an easy exercise in any manner, is a very important method to test what-if scenarios in a world where uncertainly is the norm of the situation. In a world where services are gaining more and more prominence, simulation exercise becomes the only method to come closer to experience reality without actually doing it. No question that simulation has helped immensely in production area too.

Simul8 (www.simul8.com) will be the primary tool of simulation modeling. Other tools will be used as needed.

Some overall questions will span the general class theme. For any given challenge,

· How to model the given system
· What data and knowledge about the data exist
· What are the constraints from various aspects
· How to analyze the output for model validation
· How to suggest improvements from the model and its behavior

LEARNING OBJECTIVES

At the conclusion of the course the student should have:

· Gain an understanding of integrating business management principles and practice the theory in an interdisciplinary environment
· Develop skills that are necessary to solidify a business plan based on what-if scenarios
· Obtain the knowledge and skill to analyze a business process – not just at high-level
· Work as a member of a team in completing everyday business tasks and making decisions relating to the overall operation of the business and growth of the business
· Apply critical thinking and problem solving skills in a rapidly evolving environment
· Develop the skills necessary to effectively participate in primary business function:

o Human Resources o Purchasing/Operations
o Marketing/Sales o Finance

SUMMARIZED COURSE CONTENT

SESSION	CONTENTS	READING
	MODULE A - BASIC SIMULATION MODELING
1	Introduction/course outline The Nature of Simulation Systems, Models and Simulation Simulation with Simul8	Chapter 1
2	Simulation of a Single Server Queuing System Simulation of an Inventory System Simulation with Simul8	Chapter 1
3	Parallel/Distributed Simulation Simulation with Simul8	Chapter 1
4	Steps in a Simulation Study Other Types of Simulation Simulation with Simul8	Chapter 1
	MODULE B - MODELING COMPLEX SYSTEMS
5	List Processing in Simulation Simulation with Simul8	Chapter 2
	MODULE C – SIMULATION SOFTWARE
6	Introduction, Classification Simulation with Simul8	Chapter 3
7	Desirable Software Features Simulation with Simul8	Chapter 3
8	Simulation Software Demonstration Simulation with Simul8	Chapter 3
	MODULE D – PROBABILITY AND STATISTICS
9	Random Variables Simulation with Simul8	Chapter 4
10	Simulation Output Data and Stochastic Process Simulation with Simul8	Chapter 4
	MODULE E – PRESENTATION
11	Presentation of Assignment Simulation with Simul8
	MODULE F – INPUT PROBABILITY DISTRIBUTION
12	Useful Distributions Simulation with Simul8	Chapter 6
	MODULE G – RANDOM NUMBER GENERATORS
13	Introduction, Generators Simulation with Simul8	Chapter 7
	MODULE H – RANDOM VARIATES
14	Continuous and Discrete Random Variates Simulation with Simul8	Chapter 8
	MODULE I – PRESENTATION
15	Student Presentations

Obviously, the division of sessions over the allotted classes will depend on our speed and mutual clarity on what we are able to learn. As a deliberate effort, I would include more models if class prefers – this increases interaction in the class.

COURSE MATERIAL

1. Text: Simulation Modeling and Analysis, Averill M. Law, 4th Edition, 2008, Tata McGraw
2. Additional Reading Material/Models/Cases: These will be shared online or in the class
GRADING

The overall grade will be based on the following four components:

Class participation	10%
Assignments	25%
Presentation	25%
Final	40%

CLASS PARTICIPATION

Heaviest possible interaction through hands-on modeling will be the learning method in this class. Pedagogically, this course will rely very heavily on experiential learning built around the following elements: class discussion of models, thought sharing, and video supplements. For the course to be useful to you, it is essential that, besides reading assigned chapters/articles from the book and the conceptual articles, you come to each class well prepared to discuss your analysis of the assigned material. I would strongly encourage active class participation.

· My experience has been that students generally tend to under- (rather than over) estimate the worth of what they have to say. Thus, if you are ever in doubt, I would encourage you to participate rather than to keep quiet.
· Note that probing questions are as useful a form of class participation as presentations of logical analyses.
· Finally, needless to add, the quantity of your class participation would count positively only if the substantive quality of your comments and/or questions adds value to the class discussions.
ATTENDANCE POLICY

A very significant portion of your learning is likely to take place in the classroom as you participate in and listen to conceptual discussion and model/case analyses. Therefore, it is essential that, barring a job-related or personal crisis, each student attend every class. In case of any such exigencies, you must let me know either ex-ante or ex-post. Also, please note that if you miss more than two classes – for any reason – you run the risk of getting an “incomplete” grade in the course.

ACADEMIC INTEGRITY

Any breach of integrity sensed by the instructor may result in a Fail grade for the class – the decision will be final in such cases.

SPECIAL NEEDS

Any student with special needs should bring this to the attention of the instructor as soon as possible, but not later than the second week of class.

Created By: Janaki Jagan on 05/13/2011 at 02:05 PM
Category: ExPGP-III Doctype: Document