Title

A Methodology For Stochastic Optimization Of Multiple Response Simulation Models

Keywords

multicriteria optimization; simulation; stochastic optimization

Abstract

Simulation has become one of the most popular tools for the design and analysis of complex systems. The popularity of simulation is due to its flexibility, its ability to model systems more accurately than analytical models, and its ability to model the time dynamic behavior of systems. A major drawback of simulation, however, is that simulation is only a descriptive tool; therefore, in order to optimize a simulation model, it must be used in conjunction with an optimum seeking method. This paper describes an interactive (decision maker-computer) methodology for stochastic optimization of simulation models with multiple responses. The approach is illustrated with an example involving the optimization of an inventory policy. © 1993, Taylor & Francis Group, LLC. All rights reserved.

Publication Date

9-1-1993

Publication Title

Engineering Optimization

Volume

21

Issue

4

Number of Pages

265-275

Document Type

Article

Identifier

scopus

Personal Identifier

scopus

DOI Link

https://doi.org/10.1080/03052159308940979

Socpus ID

33847331834 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/33847331834

This document is currently not available here.

Share

COinS