18. February 2015

MSc Engineering Management - Insights

Simulation of Production Control

The second track of the MSc program in "Engineering Management" at Vienna University of Technology started with a lecture about "Logistics" given by Prof. Kurt Matyas. During this lecture, the main concepts of logistics – fundamental of logistics, material flow planning, production logistics, production optimization with value stream mapping, warehousing and supply chain management – have been presented.

After the theoretical part of this module about logistics, the students had the opportunity to apply their new knowledge in a simulation game about production control. Representing companies, the participants of the program, grouped in teams of 2 students, played against each other. The main goal of this simulation, was to establish an effective production process including production control and production planning to maximise the profit of their companies. The groups had to make decisions in short time. The success was on-line indicated by the program.

Finally several factors have been analysed for the evaluation of the participating companies as for example the total asset of the companies (the amount of machines at the beginning and at the end of the game, the cash as well as the remaining stock), the capacity utilisation, the turnover or the delivery reliability of the companies.
Summary: No virtual company got bankrupt.

Now we are ready for opening our own company- let`s have a look !!!!!!


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