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Many organizations know the benefits of simulation and desire to add this business intelligence to their organization's process improvement toolkit. However, challenges exist that prevent these organizations from actually executing and successfully bringing simulation into their organization. From the lack of the right model building resources to missing upper management support to not having robust software, simulation initiatives can dwindle for various reasons. This paper will address why simulation is important, what makes a good project, who should build the model, the expected return as well as common pitfalls. Practical advice for organizations serious about developing internal expertise and conducting simulation projects will be provided.
Date of Conference: 5-8 Dec. 2010