Discrete time simulation of an equipment rental business

Author

Bowman, R. Alan ; Mattheyses, Robert M. ; Özge, A. Yonca ; Phillips, Mary C. ; Haimowitz, Ira J.

Author_Institution

Grad. Manage. Inst., Union Coll., Schenectady, NY, USA

Volume

2

fYear

1998

fDate

13-16 Dec 1998

Firstpage

1505

Abstract

We report the results of a discrete time simulation model that we developed for an equipment rental business to study the impact of business decisions. The whole tool consisted of a user interface that enabled efficient viewing and modifying of the input data, executing the simulation program, and viewing the output reports. Utilizing this, we applied cost/benefit analysis to the results of the simulation runs and identified profitable investment alternatives for the business. We also measured their asset population in terms of their profitability and quantified the relation between utilization, repair times, and responsiveness to the customers

Keywords

business data processing; discrete event simulation; user interfaces; asset population; business decisions; cost/benefit analysis; discrete time simulation model; equipment rental business; input data; output reports; profitability; profitable investment alternatives; repair times; responsiveness; simulation program; user interface; Analytical models; Cost benefit analysis; Delay; Educational institutions; Investments; Performance analysis; Profitability; Size control; Size measurement; User interfaces;

fLanguage

English

Publisher

ieee

Conference_Titel

Simulation Conference Proceedings, 1998. Winter

Conference_Location

Washington, DC

Print_ISBN

0-7803-5133-9

Type

conf

DOI

10.1109/WSC.1998.746022

Filename

746022