the best modeling approach. In the field of supply chain modeling‚ one dilemma that a corporation faces today is whether optimization‚ simulation‚ or a hybrid model (combination of optimization and simulation) is a better option to pursue. In this paper‚ we fundamentally distinguish the two modeling approaches – Supply Chain Optimization vs. Supply Chain Simulation‚ and the scenarios where the each option should be employed. Overview Optimization focuses on finding the optimal solution from millions
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“Contract Creation and Management Simulation” Bus Law 531 August 30‚ 2011 Contract Creation and Management SimulationThe simulation shows a confutation between two software-developing companies‚ Span Systems‚ and its customer Citizen-Schwartz AG (C-S)‚ a largeGerman bank. The two companies are in difference of opinion over the quality and timeliness of deliverables. There have been major bugs found by C-S during testing and
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Strategic marketing simulation reflection I was so struggling with making strategies about how to increase the profit margin. It was challenging because it could not be solved by simply offering more discounts to increase the unit sales‚ or by increasing the motor’s price to receive high revenues. Besides those factors‚ the change of profit margin also involved the spending on features and the strength of sales force. Any one of them changed could lead to a significant difference in the change
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In this simulation‚ our team did an audit process by selecting a base to calculate Planned Materiality. We allocated the Materiality to the relevant accounts and set a Tolerable Misstatement for each account. Then‚ we assessed Audit Risk‚ Inherent Risk‚ and Control risk to derive Detection Risk. As a result of these decisions‚ we derived Sample Size and Sampling Interval‚ and set an Expected Misstatement. We learned that certain accounts have to be audit 100 percent. Some of these accounts are
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Simulation Questions . 1. Define the overall problem(s)/issue(s) your specific role was seeking to negotiate in the simulation. Make sure to integrate concepts of international law when explaining your points. The role I was playing in this simulation was Wai Cheng who is a Chinese diplomat. At the time of the simulation‚ China and Cambodia were close allies as both regimes were communist. Cheng is well acquainted with most of the Khmer Rouge‚ however‚ does not defend Pol Pot and his actions during
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presentation. This is Jordan‚ Landon‚ and yen. As you know well‚ the Biz café simulation is to experience the importance business fundamentals by running a coffee shop‚ so we can encounter all the basic elements such as financial statements‚ operations‚ management‚ and marketing to run a business. Even though we did not have enough knowledge of them we have enjoyed this practical learning experience because during the simulation‚ we could find that we have improved our knowledge of vital business
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Calculation of Pi Using the Monte Carlo Method by Eve Andersson Home : Pi : One Calculation ________________________________________ The "Monte Carlo Method" is a method of solving problems using statistics. Given the probability‚ P‚ that an event will occur in certain conditions‚ a computer can be used to generate those conditions repeatedly. The number of times the event occurs divided by the number of times the conditions are generated should be approximately equal to P.
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There was a dilemma regarding sustainable economic development in my company‚ Spectrum Sunglass Company. Due to the request of “green” from Bigmart‚ which was the largest retail customer‚ my company should have decided whether its strategy plan needed to be adjusted. I was the Director of Product Innovation within the R&D unit‚ in addition to being a resolute advocate for reducing the company’s dependence on petrochemical raw materials. However‚ much resistance took place. I had 96 weeks to persuade
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Ground Level Upon entry the door was locked and a key card was required for this single point of entry. There were security cameras outside of the building. There was a dumpster outside that was not secured‚ which could allow anyone access to sensitive information. Locking the dumpster or placing it in a secured location would mitigate this risk. The receptionist did not ask me to verify my identity. The receptionist should be required to verify the identity of everyone entering building to
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ATTENTION!! :Don’t Forget‚ Before Doing this exercise‚ Read Proverbs 2:6 and Pray first. On Jan 1‚ 2013‚ Galau co. Issued $ 500‚000 of ten-year ( semi-annually on every June 30 and Dec 31 )‚ with 13% callable bonds at an effective rate 12%. On June 30‚ 2013‚ Paid the first semi-annual interest on bonds. On Dec 31‚ 2015‚ Galau co. has redemption the bonds at 98. INSTRUCTIONS : 1. The bonds will sell at ? premium on bonds payable‚ because contract rate(callable bonds) is greater than market rate(effective
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