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Creating simulation runtimes for profit

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1 Author(s)
C. B. King ; F&H Simulations, Inc., Orem, UT, USA

The creation of runtimes in the simulation industry is fast becoming a profitable venture for many business consultants. The majority of small companies lack the expertise and the resources to build their own simulation model. Under these circumstances, it is in the company's best interest to hire an outside consultant. The consultant develops a runtime custom made to meet the needs of the client. Now the client has a powerful tool that they can use as part of their ongoing decision making. The consultant who completes a simulation project, shows the results, gives a few suggestions, and then leaves; deprives the client of the real benefits of simulation; that is, dynamic decision making. On the other hand, the consultant who, in addition to providing the usual consulting services, develops a simulation runtime for the client to use as future decisions have to be made, greatly enhances the overall consulting service. As the effort required to generate simulation runtimes decreases, more consultants will start using them in their practice, and more people will begin using simulation in their business. With proper training, and a well built simulation runtime, everyone from plant managers to accountants can take advantage of simulation for what it is-a decision making tool

Published in:

Simulation Conference Proceedings, 1995. Winter

Date of Conference:

3-6 Dec 1995