Many discrete simulation optimization techniques are unsuitable when the number of feasible solutions is large, or when …

Simulation optimization is increasingly popular for solving complicated and mathematically intractable real …-world business problems. This article reviews recent applications of simulation optimization in inventory management. Following a … brief discussion of different simulation optimization techniques, this article categorizes recent contributions on the basis …

An important goal of simulation is optimization of the corresponding real system. We focus on simulation models with …, we treat the simulation model as a black box. We assume that the simulation is computationally expensive; therefore, we … use an inexpensive metamodel (approximation, emulator, surrogate) of the simulation model. A popular metamodel type is a …