The value of simulations
There’s a post over at supplychainer.com discussing the merits of simulation. The following in particular caught my eye: “In an environment which is uncertain, the winners are the ones who can better execute in the case of unexpected events. Simulation can be a great skill in such cases.”
Couldn’t agree more. The right tool that empowers people with information and tools (including simulations) is the key to responding to change and unexpected events. People need to quickly collaborate and try out various scenarios to understand what’s possible and what would be the impact of their actions. There’s a growing number of such events where the complexity and risk to the business are such that human judgment, supported by simulation tools, is the key to rapid and accurate response.
