Discrete Time Simulation of an Equipment Rental Business

In this work we report the results of a discrete time simulation model that we developed for an equipment rental business to study the impact of business decisions. The whole tool consisted of a user interface that enabled efficient viewing and modifying of the input data, executing the simulation program, and viewing the output reports. Utilizing this we applied cost/benefit analysis to the results of the simulation runs and identified profitable investment alternatives for the business. We also measured their asset population in terms of their profitability and quantified the relation between utilization, repair times, and responsiveness to the customers.

• Type: Conference
• Year: 1998
• Where: WSC
• Authors: R. Alan Bowman, Ira J. Haimowitz, Robert M. Mattheyses, Ayonca Özge, Mary C. Phillips
• Keywords: Discrete Time Simulation, Equipment Rental Business, Modeling And Simulation, Profitable Investment Alternatives, WSC 1998