Modelling
1) The concept whereby reality (especially future reality) is simply represented on paper to predict the likely consequences of particular strategies or policies.
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Modelling 1) The concept whereby reality (especially future reality) is simply represented on paper to predict the likely consequences of particular strategies or policies. Inventory modelling 1) The evaluation of alternative inventory design characteristics or inventory parameters using analytical or simulation processes to assist management decisions. (Source: ILT Supply-Chain Inventory Management SIG) Activity-based modelling 1) Concept used to ‘test’ a variety of alternative activity strategies using varying quantitative information.
Simulation modelling 1) The process of determining a clear understanding of a project, the objectives to be achieved and the likely costs/results, in advance, by means of computer simulation. |
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