SEEING SIMPLICITY IN COMPLEXITY

Using agent-based modelling (ABM) to improve strategic decision-making in industrial processing

In the past century, manufacturers have dealt with the same suppliers, customers and competitors. They concentrated on economies of scale and on optimizing the efficiency and effectiveness of their processes. But we now live in a world in which many of our previous assumptions are no longer valid. Raw materials become depleted. Climate change drives large scale energy transition. Governments impose increasingly stringent regulations on what manufacturers can do. Demographic shifts disrupt societies around the world. All this means that manufacturers must learn how to manage price volatility in their raw materials, incorporate greater flexibility into their operations, and make sure their logistical operations are resilient to sudden changes.

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