In this paper, we consider the discrete optimization via simulation problem with a single stochastic constraint. We present two genetic-algorithm-based algorithms that adopt different sampling rules and searching mechanisms, and thus deliver different statistical guarantees. The first algorithm...

We consider a choice-based, network revenue management (RM) problem in a setting where heterogeneous customers consider an assortment of products offered by a firm (e.g., different flight times, fare classes, and/or routes). Individual choice decisions are modeled through an ordered list of...

This article addresses the appointment scheduling of outpatient surgeries in a multistage operating room (OR) department with stochastic service times serving multiple patient types. We discuss many challenges, such as the limited availability of multiple resources (e.g., staff, operating rooms,...

This paper presents a decision support system (DSS) for making the waste collection process more sustainable. Currently, waste collection schedules and routes are created manually in most waste management organizations. This is both very time consuming and likely to result in poor solutions, as...

Portfolio optimization and quantitative risk management have been studied extensively since the 1990s and began to attract even more attention after the 2008 financial crisis. This disastrous occurrence propelled portfolio managers to reevaluate and mitigate the risk and return trade-off in...

Recently a new simulation-based optimization benchmark of groundwater contaminant source localization problems has been introduced to the hydrogeological science community. Given information on contaminant concentration levels at each monitoring well and each time step, its objective is to...

Applying computationally expensive simulations in design or process optimization results in long-running solution processes even when using a state-of-the-art distributed algorithm and hardware. Within these simulation-based optimization problems the optimizer has to treat the simulation systems...

Supply chains are exposed to many types of risks and it may not be obvious where to keep safety stocks in the supply chain to hedge against those risks, while maintaining a high customer service level. In this paper, we develop an approach to determine the safety stock levels in supply chain...

Purpose: While simulation-based optimization has been discussed in theory and practically employed at container terminals, the different publications in this field have not yet been presented and compared in a structured manner. This paper gathers the latest developments and examine the...