OPTIMIZATION OF STOCHASTIC SYSTEMS THROUGH SIMULATION USING STOCHASTIC APPROXIMATION METHOD
Abstract
Simulation has the behavior of often been used as a means of explaining large and/or complex systems. Although obtaining the response. of a complex stochastic system is of a great value to the decision maker, it is not always enough. For example a warehouse manager may be interested to find out the cost of his inventory system under a certain policy of quantity S. a fixed safety stocks and a fixed ordering But he might be more interested in finding out what values of S and s minimize the cost of the system. in a queueing system with a certain number of servers and fixed amount of waiting space, simulation could be used to evaluate the cost of operation or the average waiting time. But it would be more valuable if simulation could answer another series of questions such as how many servers be employed to minimize should the operating costs, or how much waiting space should be employed to maximize the profit
Degree
Ph.D.
Subject Area
Industrial engineering
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