One Reason for Using Simulation Rather Than an Analytical Model

question 75

True/False

One reason for using simulation rather than an analytical model in an inventory problem is that the simulation is able to handle probabilistic demand and lead times.

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Definitions:

Potential Drawbacks

Refers to possible disadvantages, risks, or negative consequences that may arise from a decision, action, or strategy.

Job Incumbents

Individuals who currently hold a particular position or role within an organization.

Job Analysis Process

An analytic procedure to identify the duties, responsibilities, and requirements of a job.

Enhanced Ratings

Improved or upgraded assessments or evaluations, often applied to products, services, or performance, reflecting superior quality or achievement.