Mapping the Stock and Flow Structure of Systems Assessment

This assignment provides you with the opportunity to practice with the structure and dynamics of stocks and flows. Stocks and flows are the building blocks from which every dynamic system is constructed. The ability to identify, map, and understand the dynamics of the networks of stocks and flows in a system is essential to understanding the processes of interest in any modeling effort.

• Be sure you have carefully read Ch. 6, Ch 7 and 10 of Business Dynamics before doing this assignment.
• Submitting your work: One member of your team should submit your team’s write up and model on Blackboard, as a single zip (or 7Z) file containing a word document and a Vensim mdl file. Make sure the write up lists the full names of all members of your group.

Response of Delays to Changing Delay Times:

To develop your understanding of how the different types of delays respond to variations in the delay time, answer the following questions.

1. Consider a model of the post office as a third-order material delay. Assume that the mailing rate is constant, and that the system is in equilibrium—the mailing rate and delivery rate are equal. Without using simulation, sketch the behavior you expect if the delay time suddenly and permanently increases from 5 days to 10 days on day 5. Make two graphs—one showing the mailing rate and delivery rate and the other showing what you expect to happen to the stock of letters in transit. Sketch the response you would expect if the delay time suddenly dropped from 5 to 2.5 days.
2. Now consider a firm’s forecast of orders. Assume the firm uses adaptive expectations to forecast orders. Assume that the order rate is constant and that the expected order rate is equal to the order rate (the system is in equilibrium). Without using simulation, sketch the behavior you expect if the time to adjust the forecast suddenly and permanently decreases from 6 months to 3 months.
3. After you’ve sketched your intuitive estimates, build the models and simulate their response to changes in the delay time. Was your intuition correct? If there are differences in the response of the material and information delays to changes in the delay times, explain why.
4. Create a model of the improvement process described above and compare its behavior to the given data. Once you have formulated your model, make sure the units of each equation are consistent. Hand in your final documented Vensim model file (.mdl file).

Are you struggling to keep up with the demands of your academic journey? Don't worry, we've got your back! Exam Question Bank is your trusted partner in achieving academic excellence for all kind of technical and non-technical subjects.

Our comprehensive range of academic services is designed to cater to students at every level. Whether you're a high school student, a college undergraduate, or pursuing advanced studies, we have the expertise and resources to support you.

To connect with expert and ask your query click here Exam Question Bank