Purpose – With an increase in global outsourcing, there is a need for risk mitigation strategies for outsourcing … to outsource activities. A simulation‐based benchmarking approach is likely to provide a more objective assessment of a …‐listed service providers. Originality/value – This paper fulfils an identified need for minimizing risk in both business process …

several measures that decrease the activity duration. The risk of an overrun has to be weighed against the expected costs and …

In the field of inventory management, it is a well‐known fact that centralisation, by sharing the risk between several … entities involved. This paper describes a simulation‐based methodology used to study the impacts of equipment pooling on a …

simulation is an empirical exploratory post factum study that gives researchers and practitioners further insight how to … formulate a risk neutral pricing model for accumulators in the future.  …

approach, genetic algorithm and simulation optimization approach. Findings – The models capture the impact of disruption risk … capacitated problem. Simulation optimization found to be the best solution approach for such problem. Research implications …

Purpose – The purpose of this paper is to present an eight‐step simulation model development process (SMDP) for the … design, implementation, and evaluation of logistics and supply chain simulation models, and to identify rigor criteria for … chain studies that employ discrete‐event simulation modeling. From this pool, studies that report in detail on the steps …

Examines the cost performance of various strategies for managing foreign exchange risk in international sourcing. The … strategies represent a broad spectrum of approaches to exchange risk, ranging from aïve to active. Of particular interest is the …/US dollar exchange rate for the period January 1986 through December 1990. Employs a historical simulation methodology to …

Purpose – Postponement is known as a way to reduce risk and inventories while still providing high product variety and … acceptable response times. The paper is a case study that uses simulation for quantifying these benefits for a consumer … dealers of the case company. Next, the benefit of postponement is evaluated quantitatively using discrete‐event simulation …

models. Approaches to their valuation derived from option pricing are critically assessed. Simulation methododology is …

Monte Carlo simulation is one of a number of analytical techniques available to enable managers to assess the risks … analyses a simulation model utilizing facilities available to most managers. The model uses a macro to automate the simulation …