The unprecedented scale of IT service delivery requires careful analysis and optimization of service systems. Simulation is an efficient way to handle the complexity of modeling and optimization of real-world service delivery systems. However, typically developed custom simulation models lack standard architectures and limit the reuse of design and implementation artifacts across multiple model...

Thermal recovery techniques including Fast-SAGD process increases the production efciency of heavy oil reservoirs. Effective parameters in this study included injection and production rates, height of the injection, production, and offset wells, production and injection cycles, and pressure of the offset wells. In this study, optimization studies were performed. The objective function was defned a...

Container handling problems at container terminals are NP-hard problems. This paper presents an approach using discrete-event simulation modeling to optimize solution for storage space allocation problem, taking into account all various interrelated container terminal handling activities. The proposed approach is applied on a real case study data of container terminal at Alexandria port. The co...

Dealing with ill-defined problems, where the actual values of input parameters are unknown or not directly measurable, is generally not an easy task. In this paper, we propose a hybrid metaheuristic approach, incorporating a sampling-based simulation module, in order to enhance the robustness of the final solutions. Empirical application to the classical mean-variance portfolio optimization pro...

A crucial issue for addressing decision-making problems under uncertainty is the approximate representation of multivariate stochastic processes in the form of scenario tree. This paper proposes a scenario generation approach based on the idea of integrating simulation and optimization techniques. In particular, simulation is used to generate outcomes associated with the nodes of the scenario t...

The paper presents a simulation-optimization approach using genetic algorithm to the supplier selection problem. The problem consists in selecting a portfolio of suppliers from a set of pre-selected candidates. The supplier selection is a multi-criteria problem that includes both qualitative and quantitative criteria. In order to select the best suppliers it is crucial to make a trade off betwe...

This paper introduces a simulation-based numerical method for solving dynamic portfolio optimization problem. We describe a recursive numerical approach that is based on the Least Squares Monte Carlo method to calculate the conditional value functions of investors for a sequence of discrete decision dates. The method is data driven rather than restricted to specific asset model, also importantl...

Container handling problems at the container terminals are NP-hard problems. In this paper, we propose a new handling operation’s design and simulation of empty containers, taking into account the interrelated activities at the container terminal. This simulation have been built using a doubled trailer. It moves containers from quayside to yard side or the opposite depending on the flow in cont...

This paper presents an optimization approach to analyze the problems of portfolio selection for longterm investments, taking into consideration the specific target replacement ratio for defined-contribution (DC) pension scheme; the purpose is to generate an effective multi-period asset allocation that reaches an amount matching the target liability at retirement date and reduce the downside ris...