Inventory Optimization using Simulation Approach

USMC inventory control using optimization modeling and discrete event simulation

development of reservoir operation policies using integrated optimization-simulation approach

this study is focused on developing an integrated optimization-simulation based genetic algorithm model (iosga) to develop the operational policies for a multi-purpose reservoir system. the objective function of the optimization model is considered to be a linear function of reliability (rel), resiliency (res), and vulnerability (vul) of the river-reservoir system. genetic algorithm (ga) is emp...

implementation of particle swarm algorithm in optimization approach using simulation

optimization through simulation is considered anefficient tool in dealing with optimization problems. it’s a tool that iscapable to cover real world problems to a much more complete way than the otheroptimization tools. the problem of this tool is the necessity of heavyprocessing computations. this problem is caused not only since the simulationprocess is time consuming, but the objective funct...

A Robust Optimization Approach to Inventory Theory

We propose a general methodology based on robust optimization to address the problem of optimally controlling a supply chain subject to stochastic demand in discrete time. This problem has been studied in the past using dynamic programming, which suffers from dimensionality problems and assumes full knowledge of the demand distribution. The proposed approach takes into account the uncertainty o...

A Simulation-Based Optimization Approach to a Lost Sale Stochastic Inventory Model

This paper describes a stochastic inventory model where the control review system is periodic; demand contains auto-correlated components; and categorized as a lost sale case. The authors propose a simulationbased optimization based on using a combination of simulated annealing, pattern search, and ranking and selection methods to search and approximate solutions to this problem. Simulated anne...