The use of Simulation Models for Analyzing Costs in Additive Manufacturing Facilities

Abstract

In the current market environment, characterized by volatility and uncertainty, informed decisionmaking is crucial for the sustainability and success of entrepreneurial and business ventures. This paper explores the practical application of simulation models as analytical tools, demonstrated through the creation and analysis of a simulation model of an additive manufacturing facility. Simulation models are effective tools for gaining a deeper understanding of real-world systems. Additive manufacturing, as a sustainable alternative to traditional methods, is gaining traction, with fused deposition modeling being particularly notable for its safety, widespread adoption, and cost-effectiveness. By simulating a small to medium-scale manufacturing operation, this paper aims to provide practical insights into the integration of simulation models and small-scale manufacturing facilities that implement additive manufacturing methods. These insights are designed to assist decision-makers in making informed decisions, weighing alternatives, and mitigating unnecessary waste and risk when initiating an entrepreneurial venture.