Value system simulation models, The REA ontology as a conceptual basis for simulation models

This paper presents a framework for the integration of supply chain, operational and financial simulation models, which should allow assessing the impact of supply chain and operational changes on an enterprise’s financial per-formance. The REA ontology provides a shared conceptual ground for these three model types, as a foundational theory for building and integrating supply chain, value chain (i.e., financial) and business process (i.e., operational) simu-lation models. We show that the REA axioms help to define conceptually sound supply chain, value chain and business process simulation models and the inte-gration points between them. It is further shown how these three types of simu-lation models are integrated into one value system model for discrete event simulation, making use of the ExSpecT simulation tool. With this ontology-based framework, simulation model builders should be able to scope their mod-els better and define integration point with other models, which is expected to promote the (re)use of simulation models for different purposes (e.g., simulat-ing logistic, operations and financial performance)