Proceedings of the 2018 International Conference on Computer Modeling, Simulation and Algorithm (CMSA 2018)

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

Authors
Endong Wang, Jared Forst, Neslihan Alp, Xiaoni Wang
Corresponding Author
Endong Wang
Available Online April 2018.
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/).

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Volume Title
Proceedings of the 2018 International Conference on Computer Modeling, Simulation and Algorithm (CMSA 2018)
Series
Advances in Intelligent Systems Research
Publication Date
April 2018
ISBN
978-94-6252-523-8
ISSN
1951-6851
DOI
10.2991/cmsa-18.2018.9How to use a DOI?
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/).

Cite this article

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  -