On the Uses of Industrial Dynamic Models

This paper introduces a philosophy of industrial dynamics based on obtaining results in as quick and economical a fashion as possible. This economy is achieved by stating explicitly the objectives expected and tailoring the model toward the achievement of those objectives. Three specific and widely...

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Bibliographic Details
Published in:Operations research 1967-07, Vol.15 (4), p.752-767
Main Author: Wismer, David A
Format: Article
Language:English
Subjects:
Automobile sales
Bulk transfers
Business structures
Cements
Cost of sales
Dynamic modeling
Economic models
Industrial dynamics
Raw materials
Sales taxes
Online Access:Get full text
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Summary:This paper introduces a philosophy of industrial dynamics based on obtaining results in as quick and economical a fashion as possible. This economy is achieved by stating explicitly the objectives expected and tailoring the model toward the achievement of those objectives. Three specific and widely differing uses of a dynamic model are proposed. These are called analysis, feasibility, and control, and are demonstrated in terms of the dynamic model of earnings for a cement company.
ISSN:0030-364X
1526-5463
DOI:10.1287/opre.15.4.752