Soft Computing in Smart Manufacturing by Tatjana Sibalija J. Paulo Davim

Author:Tatjana Sibalija, J. Paulo Davim
Language: eng
Format: epub
Publisher: De Gruyter
Published: 2021-11-11T09:29:36.760000+00:00

4.3.1.3 System dynamics

System dynamics is the oldest simulation approach, with roots in work done by Massachusetts Institute of Technology’s professor Jay Forrester in the 1950s. From the very beginning, system dynamics stayed focused on the management and organizational layers of the business. This approach operates at a high abstraction level and is mostly used for strategic modeling. The basic system dynamics element is the stock and flow diagram. A stock is a digital representation of something that is modeled, for example, a number of people, a set of requirements, or a number of products. Any process in system dynamics is modeled as flow between stocks. It can be imagined that any production process is just a raw material flow to finished goods. System dynamics is most commonly used for modeling strategic management, marketing and macroeconomic issues, ecological and social systems.

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