Production function implementation in an agent-based simulation

The aim of the paper is to describe the seller‐to‐customer negotiation in the business processes (sales) of a virtual company. Based on it we propose an innovative approach to simulate, investigate and to predict some of the key performance indicators of a trading company. The methods used to implement the simulation framework in the form of multi‐agent system come out of the agent‐based modelling and simulation techniques. The framework should be a basic part of a management information system operating in the integration with real system of a company (e.g., ERP system). The paper firstly presents some of the existing theories about consumer behaviour and the types of factors influencing it. Secondly, it characterises multi‐agent model of a virtual company, the agents participating in the seller‐to‐customer negotiation, and the production function. Finally, the simulation results and their validation are described. To conclude, the proposed approach with the use of seller‐to‐customer negotiation could properly contribute to better decision‐making process of a company's management.