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Business Simulation Modelica library icon

Business Simulation

Guido Wolf Reichert

System dynamics is a very powerful and flexible modeling paradigm that lends itself perfectly to model, simulate and analyze strategic business and public policy issues in any kind of organization. Using the basic stock and flow perspective characteristic for economics and business accounting, a business simulation helps to dynamically explain outcomes and performance while being solidly grounded in operational ("physical") reality. Unlike existing approaches, the Business Simulation library makes use of Modelica's acausal connectors to better distinguish material/mass flows from instantaneous information signal flows (causal connections). The approach has the additional benefit of allowing the modeler to build more compact models in a fast and reliable fashion.

Features

  • Hierarchical and acausal modeling with increased reusability of components and enforcement of mass balance
  • Modeling of mass and information flows
  • Use of the system dynamics metaphor
  • Inclusion of many pre-built components ("molecules of structure")
  • Ability to combine components from the Modelica Standard Library
  • Support for convenient parametric lookup functions—including typical fuzzy membership functions
Business Simulation Modelica library icon Business Simulation Guido Wolf Reichert