Schools of business and departments of agricultural economics have used management simulation "games" for years to provide an experiential learning experience for students and business managers on the principles of business management. The Purdue Farm Supply Management Simulation Game has been used for that purpose at several universities for both undergraduate courses and in Extension workshops with agribusiness managers. However, the simulation was last revised in 1992, which has limited it application at some institutions. A project has been underway for more than a year to update the program software and to enhance its capabilites. The revision of the program was completed in the fall of 2009. The latest version includes modules on finance (including 3 interest rate scenarios), financial statement analysis, product pricing, inventory management (including a feature to allow the submission of emergency product orders), sales forecasting and other variables. The purpose of the session is to demonstrate the features of the new version of the simulation that attendees could then evaluate and consider for use in undergraduate classrooms and for Extension programs.
|Conference||2010 National Farm Management Conference|