Optimization of the Automated Production Process Using Software Simulation Tools

Abstract

The purpose of this article is to point out the need to use software simulation tools in industrial practice to optimize the production process and assess the economic effectiveness of investment, including risk. The goal of the research is to find an optimal investment variant to ensure an increase in the production volume of at least 50% and to achieve the maximum economic efficiency of the investment, even considering the risk. The article presents a comprehensive approach that enables the achievement of the set research goal. The selection of the optimal version of the investment is carried out in three steps. Firstly, the versions of the investment variants are assessed from the production point of view using the program Tecnomatix Plant Simulation. Subsequently, the versions of the investment variants are assessed from an economic point of view and from a risk point of view. Economic efficiency is assessed using the financial criteria net present value (NPV), profitability index (PI), and discounted payback period (DPP), and risk analysis is carried out using Monte Carlo simulations. Finally, the accepted outputs are evaluated overall using a multi-criteria method, namely the method of partial order.