Discrete-event simulationA discrete-event simulation (DES) models the operation of a system as a (discrete) sequence of events in time. Each event occurs at a particular instant in time and marks a change of state in the system. Between consecutive events, no change in the system is assumed to occur; thus the simulation time can directly jump to the occurrence time of the next event, which is called next-event time progression.
SimulationA simulation is the imitation of the operation of a real-world process or system over time. Simulations require the use of models; the model represents the key characteristics or behaviors of the selected system or process, whereas the simulation represents the evolution of the model over time. Often, computers are used to execute the simulation. Simulation is used in many contexts, such as simulation of technology for performance tuning or optimizing, safety engineering, testing, training, education, and video games.
TrafficTraffic comprises pedestrians, vehicles, ridden or herded animals, trains, and other conveyances that use public ways (roads) for travel and transportation. Traffic laws govern and regulate traffic, while rules of the road include traffic laws and informal rules that may have developed over time to facilitate the orderly and timely flow of traffic. Organized traffic generally has well-established priorities, lanes, right-of-way, and traffic control at intersections.
Customer satisfactionCustomer satisfaction (often abbreviated as CSAT) is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customers play an important role and are essential in keeping a product or service relevant; it is, therefore, in the best interest of the business to ensure customer satisfaction and build customer loyalty.
Preference (economics)In economics and other social sciences, preference refers to the order in which an agent ranks alternatives based on their relative utility. The process results in an "optimal choice" (whether real or theoretical). Preferences are evaluations and concern matter of value, typically in relation to practical reasoning. An individual's preferences are determined purely by a person's tastes as opposed to the good's prices, personal income, and the availability of goods. However, people are still expected to act in their best (rational) interest.
Value-based pricingValue-based price (also value optimized pricing and charging what the market will bear) is a market-driven pricing strategy which sets the price of a good or service according to its perceived or estimated value. The value that a consumer gives to a good or service, can then be defined as their willingness to pay for it (in monetary terms) or the amount of time and resources they would be willing to give up for it. For example, a painting may be priced at a higher cost than the price of a canvas and paints.
Sustainable packagingSustainable packaging is the development and use of packaging which results in improved sustainability. This involves increased use of life cycle inventory (LCI) and life cycle assessment (LCA) to help guide the use of packaging which reduces the environmental impact and ecological footprint. It includes a look at the whole of the supply chain: from basic function, to marketing, and then through to end of life (LCA) and rebirth.
ConurbationA conurbation is a region comprising a number of metropolises, cities, large towns, and other urban areas which through population growth and physical expansion, have merged to form one continuous urban or industrially developed area. In most cases, a conurbation is a polycentric urbanised area in which transportation has developed to link areas. They create a single urban labour market or travel to work area. Patrick Geddes coined the term in his book Cities In Evolution (1915).
Traffic lightTraffic lights, traffic signals, or stoplights – also known as robots in South Africa – are signalling devices positioned at road intersections, pedestrian crossings, and other locations in order to control the flow of traffic. Traffic lights consist normally of three signals, transmitting meaningful information to road users through colours and symbols including arrows and bicycles. The regular traffic light colours are red, yellow (also known as amber), and green arranged vertically or horizontally in that order.
Incentive programAn incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance. Motivation Employee incentive programs are programs used to increase overall employee performance.
