Slide 6: Introduction to Simulation s Application of simulation(in terms of decision making) System design and evaluation Process/system improvement and optimization Policy or strategy evaluation (What-if analysis) g Limitations of simulation Simulation cannot Provide exact solutions Find optimal solutions(in exact form) Compensate for inadequate data or poor management decisions Provide fast and easy solutions to complex problemsApplication of simulation (in terms of decision making) - System design and evaluation - Process/system improvement and optimization - Policy or strategy evaluation (“What-if” analysis) Limitations of simulation: Simulation cannot: - Provide exact solutions - Find optimal solutions (in exact form) - Compensate for inadequate data or poor management decisions - Provide fast and easy solutions to complex problems Slide 6: Introduction to Simulation