Business Process Modeling and Simulation
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Business Process Modeling and Simulation |
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Modeling and Simulation |
Summary of Business Process Modeling and Simulation. Abstract |
What is business modeling?
Through business process modeling, organizational processes are being redesigned and reshaped. Business models provide ways of expressing business processes or strategies in terms of business activities and collaborative behavior so we can better understand the business process and the participants in the process. Models are helpful for documenting, comprehending and communicating complexity. By documenting business processes from various perspectives, business models help managers understand their environment.
Business Simulation has grown from operations research in the 1950s. With the arrival of increasingly cheap and powerful computers, and increasingly user-friendly software, business modeling techniques now allow also non-technical managers to try out various options or scenario's to assist in the decision-making process.
Another factor that has contributed to the increasing usage of the business modeling method, is the increasing pace of change in business. There is not enough time to try-out new products in reality, and correcting mistakes, once they have occurred, is often extremely costly.
Common uses of modeling and simulation:
- Financial Planning, quantifying the impact of business decisions on balance sheet and P&L.
- Risk Management, determining, measuring and managing the balance between profitability and certain types of risks.
- Forecasting, analyzing historical data and using that to predict future scenario's and trends.
- Business Process Modeling, mapping processes, tasks and process steps in a visual representation to the resources required.
Book: Manuel Laguna, Johan Marklund - Business Process Modeling, Simulation, and Design
Book: Bernard P. Zeigler - Theory of Modeling and Simulation
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Compare with modeling and simulation: Game Theory | Operations Research | Enterprise Architecture | Value Stream Mapping
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