Increasing return on investment from simulation (panel)

Gibson, Peter G.; Medeiros,; Sudar,; Waite,

doi:10.1109/wsc.2003.1261667

Cited by 4 publications

(4 citation statements)

References 20 publications

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“…The research community has expressed a consensus on various difficulties associated with collection and standardization of evidence to examine the cost effectiveness of M&S techniques (Gibson et al 2003, Gordon et al 2005, Gray 1976, and Engelstein 2007. While it is not difficult to find research articles stating the benefits of applying M&S techniques, there is difficulties finding proof.…”

Section: Challenges Of Assessing Cost-effectiveness Of Mands Techniquesmentioning

confidence: 99%

Economics of modeling and simulation: Reflections and implications for healthcare

Jahangirian¹,

Taylor²

2010

Proceedings of the 2010 Winter Simulation Conference

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Arguably, it is widely known that there is much activity in modeling & simulation (M&S) in healthcare, particularly in decision support and analysis for care delivery systems (CDS). This is supported by recent literature surveys. However, there is limited evidence of reported cost, success and impact. To attempt to investigate the so-FDOOHG µHFRQRPLFV ¶ RI 0 6 LQ WKLV DUHD WKLV SDSHU DLPV WR GHSLFW D JHQHUDO SLcture of the economics of M&S supported by available evidence and to develop an initial set of guidelines using a novel framework that may assist decision makers in assessing the usefulness and cost-effectiveness of M&S. Our paper concludes with an urgent call for research in this area, specifically in terms of using standardized qualitative and quantitative methods to gather evidence for analysis and dissemination mate-ULDOV WKDW µVSHDN ¶ WR JRYHUQPHQW-level policy makers.

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Section: Challenges Of Assessing Cost-effectiveness Of Mands Techniquesmentioning

confidence: 99%

Economics of modeling and simulation: Reflections and implications for healthcare

Jahangirian¹,

Taylor²

2010

Proceedings of the 2010 Winter Simulation Conference

View full text Add to dashboard Cite

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“…Summaries can then be distributed throughout the organization to educate co-workers and uncover additional opportunities, as well as serving to document the project for historical purposes. It is also recommended that within organizations ³avenues such as corporate intranet postings, company newsletter articles, internal knowledge exchange programs, best practices events, Kaizen processes, etc., must be leveraged to promote simulation and its potential impact on driving YDOXH´ (Gibson et al 2003).…”

Section: Building the Model Internallymentioning

confidence: 99%

Practical advice for organizations new to simulation

Jurishica¹

2010

Proceedings of the 2010 Winter Simulation Conference

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Many organizations know the benefits of simulation and desire to add this business intelligence to their RUJDQL]DWLRQ ¶V SURFHVV LPSURYHPHQW WRRONLW +RZHYHU FKDOOHQJHV H[LVW WKDW SUHYHQW WKHVH RUJDQizations from actually executing and successfully bringing simulation into their organization. From the lack of the right model building resources to missing upper management support to not having robust software, simulation initiatives can dwindle for various reasons. This paper will address why simulation is important, what makes a good project, who should build the model, the expected return as well as common pitfalls. Practical advice for organizations serious about developing internal expertise and conducting simulation projects will be provided. INTRODUCTIONWhile there are many disciplines of simulation, this paper references discrete-event simulation (DES).With DES, analysts model a system along with the associated events and variability, in a computer model, for the benefit of understanding how the system works and how various changes will impact system performance. For example, a manufacturing facility with 5,000 different products, over 100 employees and 50 different workstations might be looking to automate an aspect of their plant. They execute a simulation project to understand how changing a manual process to an automated process will impact their entire system by comparing key performance measures such as throughput, cycle time and work in process. The simulation will help them make critical decisions: whether to automate, what equipment will be necessary, what resources are needed, etc. DES truly is one of the most powerful tools for predicting future system performance. Millions of dollars are at stake when designing and re-designing complex systems and simulation studies will provide an insurance policy against major changes. Most often, business problems are addressed using common desktop tools such as Microsoft Excel® and Microsoft Access®, or resorting to the gut feel from senior process owners. These methods are familiar, inexpensive and readily available, so it is no surprise that they are heavily relied on for key decision making. However, most organizations are missing a tool in their toolbox. Think back to your last major project. What would you have done differently? Did you plan for too much capacity or too little? Did you have all the right staff and other resources in place? What if you could have predicted the design flaws before they occurred? A simulation study of a complex system will always allow analysts to go beyond static calculations and provide accurate insight into the true performance of operations. If simulation is so SRZHUIXO DQG LPSRUWDQW ZK\ LVQ ¶W LW D VWDQGDUG practice in every organization? It should be. Basic queuing theory and stochastic nature are part of every system and should be understood by all process improvement professionals. This paper will provide practical advice for organizations on how to introduce simulation and how to benefit from project outcomes withi...

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“…Paraphrasing Harrel and Tumay (1995): "A fool with a tool is still a fool". According to Gibson et al (2003) "…the Simulation Community may have accidentally hurt itself by overstressing the importance of "ease of use" software, and not stressing the importance of "engi-neering discipline" -training and experience -need to properly employ such software, manage the project, and produce correct and appropriate results". Therefore simulation software vendors play a key role in the success or failures of the simulation market.…”

Section: Promotionmentioning

confidence: 99%

“…Now, 10 years later, we can affirm that this is far from being true. On Winter Simulation Conference 2003, during the panel session "Increasing Return on Investment from Simulation" (Gibson et. al 2003) the panelists raised several points for simulation not reaching its full potential as a decision making tool, being used just by a small part of potential users.…”

Section: Introductionmentioning

confidence: 99%