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Article: A decision support system based on simulation optimization

TitleA decision support system based on simulation optimization
Authors
Issue Date2012
PublisherInternational Leadership Institute. The Journal's web site is located at http://www.ejournalbusinesstechnologyleadership.net.au/
Citation
International e-Journal of Business and Technology Leadership, 2012, v. 1 n. 1, p. 40-69 How to Cite?
AbstractModeling and simulation is a powerful industrial engineering technique for gaining insights into the functioning, performance, and operation of complex systems. It is an extremely useful tool for stake holders and decision makers in different industries. By changing the operating parameters and input data to a system under investigation with simulation, assessment and forecasts about the behaviors of the systems can be obtained through computer-aided simulation, hence revealing the salient information to assist management to make the right decisions. While it is well acknowledged that the deployment of simulation produces feasible solutions under certain conditions for system analysis, such solutions may not be optimal and is often inadequate in circumstances where optimality is required. With this regards, this paper presents a framework that combines the process of optimization and simulation such that the strengths of both techniques are combined. This proposed simulation-based optimization framework integrates the meta-heuristics of an artificial intelligence method with a simulation engine supported by an industrial grade simulation tool for the evaluation of optimal system parameters and to reveal the performance of a system.
Persistent Identifierhttp://hdl.handle.net/10722/164133
ISSN

 

DC FieldValueLanguage
dc.contributor.authorLeung, CSKen_US
dc.contributor.authorLau, HYKen_US
dc.date.accessioned2012-09-20T07:55:47Z-
dc.date.available2012-09-20T07:55:47Z-
dc.date.issued2012en_US
dc.identifier.citationInternational e-Journal of Business and Technology Leadership, 2012, v. 1 n. 1, p. 40-69en_US
dc.identifier.issn2200-4998-
dc.identifier.urihttp://hdl.handle.net/10722/164133-
dc.description.abstractModeling and simulation is a powerful industrial engineering technique for gaining insights into the functioning, performance, and operation of complex systems. It is an extremely useful tool for stake holders and decision makers in different industries. By changing the operating parameters and input data to a system under investigation with simulation, assessment and forecasts about the behaviors of the systems can be obtained through computer-aided simulation, hence revealing the salient information to assist management to make the right decisions. While it is well acknowledged that the deployment of simulation produces feasible solutions under certain conditions for system analysis, such solutions may not be optimal and is often inadequate in circumstances where optimality is required. With this regards, this paper presents a framework that combines the process of optimization and simulation such that the strengths of both techniques are combined. This proposed simulation-based optimization framework integrates the meta-heuristics of an artificial intelligence method with a simulation engine supported by an industrial grade simulation tool for the evaluation of optimal system parameters and to reveal the performance of a system.-
dc.languageengen_US
dc.publisherInternational Leadership Institute. The Journal's web site is located at http://www.ejournalbusinesstechnologyleadership.net.au/-
dc.relation.ispartofInternational e-Journal of Business and Technology Leadershipen_US
dc.titleA decision support system based on simulation optimizationen_US
dc.typeArticleen_US
dc.identifier.emailLeung, CSK: chris06@hku.hken_US
dc.identifier.emailLau, HYK: hyklau@hku.hk-
dc.identifier.authorityLau, HYK=rp00137en_US
dc.identifier.hkuros209408en_US
dc.identifier.volume1-
dc.identifier.issue1-
dc.identifier.spage40-
dc.identifier.epage69-
dc.publisher.placeAustralia-

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