Techniques for optimization via simulation: an experimental study on an (s,S) inventory system.: An article from: IIE Transactions

Textbook: Techniques for optimization via simulation: an experimental study on an (s,S) inventory system.: An article from: IIE Transactions

Author: Michael C. Fu, Kevin J. Healy and others

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This digital document is an article from IIE Transactions, published by Institute of Industrial Engineers, Inc. (IIE) on March 1, 1997. The length of the article is 6130 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the author: Various methods have been proposed to conduct optimization via discrete-event simulation. Prevalent among these are gradient-based algorithms, and more recently, so-called retrospective approaches that deterministically optimize over simulated outcomes. In this paper we compare and contrast the performance of these two approaches for the optimization of a periodic review (s, S) inventory system. In practice, gradient-based methods often exhibit undesirably slow convergence, whereas the retrospective approach can be computationally burdensome. We propose a hybrid algorithm that combines aspects of both approaches to mitigate these shortcomings.

Citation Details
Title: Techniques for optimization via simulation: an experimental study on an (s,S) inventory system.
Author: Michael C. Fu
Publication: IIE Transactions (Refereed)
Date: March 1, 1997
Publisher: Institute of Industrial Engineers, Inc. (IIE)
Volume: v29 Issue: n3 Page: p191(9)

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