Open AccessModelling & Simulation as a Strategic Tool for Decision-Making Process: A Dairy Case Study
Author(s) -
Cristiani Eccher,
John Geraghty
Publication year - 2020
Publication title -
decision making in manufacturing and services
Language(s) - English
Resource type - Journals
eISSN - 2300-7087
pISSN - 1896-8325
DOI - 10.7494/dmms.2020.14.1.2785
Subject(s) - sort , production (economics) , process (computing) , popularity , competition (biology) , order (exchange) , commodity , supply chain , industrial organization , business , dairy industry , decision making , supply and demand , computer science , environmental economics , process management , risk analysis (engineering) , economics , marketing , microeconomics , purchasing , information retrieval , operating system , psychology , social psychology , ecology , chemistry , food science , finance , biology
The Dairy Industry faces many challenges compared to other sectors. On the supply side due to the nature of the raw material, large inventories are not applied; during the manufacturing process, the continuous production is highly sensitive to any sort of unplanned disruption; and on the demand side, the market dictates the commodity prices. In response to the growth in competition, dairy organizations’ strategy must incorporate technology into their daily processes in order to become more efficient, profitable and sustainable. To achieve desired levels of improvement, Modelling and Simulation has been increasing in popularity in the decision-making process. Using a Dairy company as a case study, this paper has highlighted the potential for Modelling and Simulation to be used as a powerful strategic tool for decision-making processes.