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On the Uses of Industrial Dynamic Models

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  • David A. Wismer

    (University of California, Los Angeles, California)

Abstract

This paper introduces a philosophy of industrial dynamics based on obtaining results in as quick and economical a fashion as possible. This economy is achieved by stating explicitly the objectives expected and tailoring the model toward the achievement of those objectives. Three specific and widely differing uses of a dynamic model are proposed. These are called analysis, feasibility, and control, and are demonstrated in terms of the dynamic model of earnings for a cement company.

Suggested Citation

  • David A. Wismer, 1967. "On the Uses of Industrial Dynamic Models," Operations Research, INFORMS, vol. 15(4), pages 752-767, August.
    • Handle: RePEc:inm:oropre:v:15:y:1967:i:4:p:752-767
    DOI: 10.1287/opre.15.4.752
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