Question: please solve the problem for systems dynamics A manufacturing firm maintains an inventory of finished goods from which it ships to customers. Customer orders are

please solve the problem for systems dynamics
A manufacturing firm maintains an inventory of finished goods from which it ships to customers. Customer orders are filled after a delay caused by order processing, credit checks, etc. (i) For 10 marks, Map the stock and flow structure, drawing on the following variables: Inventory, Raw Materials, Production, Order Backlog, Order Rate. (ii) For 10 Marks - Add sufficient commentary and explanation so that the meaning of each variable, the reasoning behind each formulation, and the data sources for each (iii) If parameter values are clear to your audience. For 10 Marks Describe, in writing, the rationale for each variable, formulation and sources for each parameter. Display your understanding of stocks, flows, etc. (iv) For 10 marks - Denote and label causal loops with appropriate names and labels. (Always provide checks that every equation is dimensionally consistent. Dimensional errors are usually symptoms of more serious conceptual difficulties). (v) For 5 marks - Answer the following three questions. a) What happens when you initialize the stock at zero inventory? Briefly explain the dynamics experienced. b) How does the dynamics change as the material delivery frequency increases? Does changing the stock delivery frequency influence stock availability? Explain why or why not with reference to the structure of the model. c) How does the dynamics change as stock availability fluctuates? Explain. d) What advice would you give the materials supervisor with regards to the situation? (vi) For 5 marks - Critique your model of Stocks and Flows in (i). The model you have developed so far is very simple. Briefly critique its formulation and list the major assumptions you view as unrealistic
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
