Optimizing Business Operation Strategies Under Uncertainties---A Simulation Approach

DOI

10.2991/cmsa-18.2018.9How to use a DOI?

Keywords

simulation; uncertainty; sensitivity; strategy

Abstract

Optimizing business strategy for maximal profit is challenging due to the variabilities and uncertainties of parametric inputs required for estimating future profits. Incorporating economic uncertainties into profit estimating process through stochastic simulation could be an option for reliable business decision analysis. In this paper, a convenient simulation-based decision procedure is presented to identify the optimal business strategy of a laptop store by exploring, quantifying and calculating inherent information uncertainties. Optimal profitability is calculated, and the associated sensitive factors are revealed.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Endong Wang
AU  - Jared Forst
AU  - Neslihan Alp
AU  - Xiaoni Wang
PY  - 2018/04
DA  - 2018/04
TI  - Optimizing Business Operation Strategies Under Uncertainties---A Simulation Approach
BT  - Proceedings of the 2018 International Conference on Computer Modeling, Simulation and Algorithm (CMSA 2018)
PB  - Atlantis Press
SP  - 34
EP  - 37
SN  - 1951-6851
UR  - https://doi.org/10.2991/cmsa-18.2018.9
DO  - 10.2991/cmsa-18.2018.9
ID  - Wang2018/04
ER  -