VECTORS OF APPLICATION OF SIMULATION MODELING IN BUSINESS PROCESS MANAGEMENT

Abstract

The article argues that the development of business process management based on simulation modeling is most active in several vectors, namely: manufacturing, telecommunications, financial services, logistics and trade, and energy. It is argued that in the "manufacturing" vector, simulation modeling is most often applied by enterprises engaged in software development, instrument making, production of consumer electronics, automotive transport, agricultural production, and food products. The most relevant objects featured in simulation models are productivity, production time, resource utilization, quality, and inventory management. In the "financial services" vector, simulation modeling is most often applied by enterprises engaged in banking, insurance activities, as well as providing intermediary financial services. The most relevant objects featured in simulation models include profit volume and profitability level, risk level and stress testing, credit risk, cash flows, investment volume, costs, and efficiency of financial operations implementation. In the "logistics and trade" vector, simulation modeling is most often applied by enterprises engaged in network trade, provision of logistics services, postal communication services, and transportation services. The most relevant objects featured in simulation models include delivery time, cost volume, throughput capacity, reliability, inventory informativeness, traffic, and security. In the "energy" vector, simulation modeling is most often applied by enterprises that are energy system operators. The most relevant objects featured in simulation models include electricity demand, energy production volume, energy distribution, power interruption, and resource utilization efficiency. In the "telecommunications" vector, simulation modeling is most often applied by enterprises that are mobile communication operators. The most relevant objects featured in simulation models include traffic potential, flow support level (latency), throughput capacity, adequacy of technical equipment and software products to actual needs (resilience to emergency situations), and resource utilization efficiency.