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| Author: | Guimaraes, R. C. Kingsman, B. G. |
| Title: | Simulation-optimization: The method and its application in the analysis of grain terminal operations |
| Journal: | European Journal of Operational Research
1989 : JUL, VOL. 41:1, p. 44-53 |
| Index terms: | SIMULATION MODELS OPTIMIZATION DECISION MAKING PURCHASING INVENTORY CONTROL |
| Language: | eng |
| Abstract: | Simulation-optimization is presented to solve complex decision problems. It consists of coupling a simulation model with a search method. A case study is described to analyse grain terminal operations. The considerable computational efforts required in application makes the evaluation difficult if the objective function or any of the problem constraint functions is directly associated with "rare events". The case study illustrates how these difficulties can be overcome by a careful exploitation of the particular structure of the problem. The model can be used to explore strategic changes in the overall purchase-delivery-inventory policy. |
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