Advantages
i). With the help of simulation, we can find the critical situation easily.
ii). New policies, Operating procedures, Information flows, etc. can be explored without disrupting the ongoing operation of the real system.
iii). New Hardware Designs, Physical Layouts, transportation Systems, etc. can be tested without committing resources for their acquisition.
iv). Time can be compressed or expanded to allow for a speed up or slow down of the phenomenon (clock is self-control).
v). Insight can be obtained about the interaction of variables and important variables to the performance.
vi). Bottleneck analysis can be performed to discover where work-in-process the system is delayed.
vii). A simulation study can help in understanding how the system operates or how a system will work.
viii). Simulation helps to give the answer of what if type of questions.
ix). It is useful for sensitivity analysis of the complex system.
x). It is suitable to analyze large and complex real-life problems.
Disadvantages
i). Sometimes Simulation models are expensive and take a long time to develop a system.
ii). The simulation model does not produce an answer by itself
iii). Each application of simulation is ad hoc to a great extend.
iv). It is a trial and error approach that produces different solution in repeated runs. And simulation does not generate the optimal solution to the problem.
