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Business Simulation

System dynamics is a very powerful and flexible modeling paradigm that lends itself perfectly to model, simulate and analyze strategic business and public policy issues in any kind of organization. Using the basic stock and flow perspective characteristic for economics and business accounting, a business simulation helps to dynamically explain outcomes and performance while being solidly grounded in operational ("physical") reality. Unlike existing approaches, the Business Simulation library makes use of Modelica's acausal connectors to better distinguish material/mass flows from instantaneous information signal flows (causal connections). The approach has the additional benefit of allowing the modeler to build more compact models in a fast and reliable fashion.

Features

• Hierarchical and acausal modeling with increased reusability of components and enforcement of mass balance
• Modeling of mass and information flows
• Use of the system dynamics metaphor
• Inclusion of many pre-built components ("molecules of structure")
• Ability to combine components from the Modelica Standard Library
• Support for convenient parametric lookup functions—including typical fuzzy membership functions

Learning Resources

Production Chain Model event-driven process chains

Employee Management Model human resource planning strategies

SIR Create and analyze epidemiological models

Developing the Business Simulation Library Learn how the library compares with the established system dynamics software

Understanding Impact of Campaigns Create qualitative models using causal loop diagrams

Details

Wolfram System Modeler

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