Day 35 in MIT Sloan Fellows Class 2023, Introduction to Operation management 4 - Littlefield simulation
Operation simulation
In operation class, we tried "Littlefield simulation", the simulation game to optimize your investment in factory production, inventory, and experiments.
Explore optimization methodologies
We did two days of an intense game, and it is equivalent to 200 days in the simulation world( 16minutes in our world equals 1 day in the simulation world).
We need to develop a robust but flexible strategy before the game starts.
I won't dive into this topic deeply because I don't want to make SF next year disappointed.
However, you can find a lot of interesting insights about strategy and quantitative approaches to tackle this simulation game from the links below.
https://digital.wpi.edu/downloads/8g84mn53p
Some interesting insights from the experience
However, I can drop some interest and versatile advice in such complex problem solving.
- Make your definition crystal-clear: You need to articulate everything clearly when you mention any metrics, units, and quantitative staff.
- Not be a dev-ops person, but be a bunker.: If you are a professional in this kind of resource utilization problem, that would be a dangerous sign. This game's objective is not to optimize the utilization. The goal is to maximize your cash. So, you need to have a bunker mindset. How much can you earn with the current strategy?
- Plan/Strategy really matters: The game is designed to ask you how to deal with panic mode. Huge demand sometimes comes accidentally. Then, solid original plan helps you a lot. Prepare verywell.
- Experimental mindset: But you still should try the diverse idea in optimization. That's why I said flexibility also matters in your strategy.
