Modelling the Impact of Production Control Strategy on System Cash Flow
McWilliams S., Murphy A., Higgins P., Collins R., Higgins C.
Understanding both operational level production behaviour and system financial behaviour is essential for successful production system tactical and strategic planning. There is limited literature on representing both detailed production and financial transactions using Discrete Event Simulation. This paper investigates the challenges of predicting the impact of varying the production control strategy when modelling both operational and finance data streams at the level of individual transactions. The investigation considers an idealised production business with two products. The products possess common production elements but independent and varying weekly demand profiles. The analysis demonstrates an approach to model combined production, financial, and control behaviours for a production system and identify the sensitivity of financial behaviour with varying production control strategies.