Discuss what types of management problems can be solved more easily by quantitative analysis techniques other than simulation. Be sure to provide examples to illustrate your understanding of these concepts

Problems that require quick answers cannot wait for a simulation model to be built

Explanation:

Problems with conditions of certainty can be solved more easily by other quantitative analysis techniques other than simulation.

These problems require quick answers that cannot wait for a simulation model to be built.

A state of certainty exists only when the managers knows the available alternatives as well as the conditions and consequences of those actions. There is relatively low possibility of making a bad decision. It assumes that manager has all the necessary information about the situation. Hence, decisions under certainty means a perfectly accurate decision will be made time after time.

Examples include the need to meet customer, contract or regulatory requirements. The consequences are known to you, should you fail to comply. When we are faced with certainty in outcomes, our strategy is fairly simple: comply. When you know the requirements, you know also to whom you are vulnerable, those authorities, whether customer or agency that mandate the requirements.

Failing to meet requirements on delivery time, failing to run a safe shop or failure to submit a mandatory government report will have known consequences (negative consequences) for your business and future relationship with the other party involved

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