selection problem in the project management. This problem is known to be NP-hard. Sophisticated optimization techniques such as … Dynamic Programming, Integer Programming, Genetic Algorithm, Ant Colony Optimization have been used for finding efficient … comparable to sophisticated optimization techniques. Research limitations/implications: The simulation based crashing method …

volume of the cuts produced daily. Originality/value: This research is among the few to solve discrete optimization problems …

-simplifying optimization techniques need to be employed. General methods for simulation optimization that do not inhibit system … economists. This paper describes the theory and algorithm of a robust and efficient simulation optimization approach, the Complex …

can be estimated by optimization of the goodness-of-fit. We compared the efficiency and accuracy of the Response Surface … Methodology and the Nelder and Mead Simplex Method for optimization of microsimulation models. To this end, we tested several … respect to accuracy, Response Surface Methodology performed better in case of optimization of the microsimulation model …

Simulation optimization is providing solutions to important practical problems previously beyond reach. This paper … explores how new approaches are significantly expanding the power of simulation optimization for managing risk. Recent advances … in simulation optimization technology are leading to new opportunities to solve problems more effectively. Specifically …

We develop a framework for automated optimization of stochastic simulation models using Response Surface Methodology … function is very expensive or time-consuming. Response Surface Methodology is frequently used for the optimization of … need to interfere in the optimization process. In our framework for automated optimization we describe all choices that …

simulation. DOE may have two goals: sensitivity analysis including factor screening and optimization. This contribution starts … Bifurcation. Then it discusses Kriging including Latin Hyper cube Sampling and sequential designs. It ends with optimization … robust optimization. …

Whereas Operations Research has always paid much attention to optimization, practitioners judge the robustness of the … combination of the following four proven techniques: (1) discrete-event simulation, (2) heuristic optimization, (3) risk or …