ABSTRACT
This chapter identifies possible strategies for utilizing real-time simulation in the context of industrial production. The literature review offered provides a framework to assess and map the crucial elements of real-time simulation. Empirical data from small and medium-sized enterprises (SMEs) in the manufacturing sector is used to test the relationship between the strategic-level integration of real-time simulation models and sustainability performance. In doing so, the chapter develops a new way of characterizing real-time simulation based on the different tiers of data integration, and therefore a novel approach to defining different real-time simulation strategies. The results show that performance enhancement is strongly connected to the degree of data integration within production operations. Researchers and practitioners can apply the cluster solution of real-time simulation strategies to identify, develop, and evaluate the use of real-time activities for sustainable value creation.
