2nd Reading April 18, 2015 12:21 WSPC/S0217-5959
APJOR
Asia-Pacific Journal of Operational Research Vol. 32, No. 3 (2015) 1550019 (34 pages) c World Scientific Publishing Co. & Operational Research Society of Singapore DOI: 10.1142/S0217595915500190
Simulation Optimization: A Review and Exploration in the New Era of Cloud Computing and Big Data Jie Xu∗ Asia Pac. J. Oper. Res. 2015.32. Downloaded from www.worldscientific.com by 61.227.188.8 on 06/20/15. For personal use only.
Department of Systems Engineering and Operations Research 4400 University Dr., MS 4A6, George Mason University Fairfax VA 22030, USA ∗
[email protected]
Edward Huang Department of Systems Engineering and Operations Research 4400 University Dr., MS 4A6, George Mason University Fairfax VA 22030, USA
[email protected]
Chun-Hung Chen Department of Systems Engineering and Operations Research 4400 University Dr., MS 4A6, George Mason University Fairfax VA 22030, USA
[email protected]
Loo Hay Lee Department of Industrial and Systems Engineering National University of Singapore, Singapore 119077, Singapore
[email protected]
Received 12 December 2014 Revised 18 January 2015 Accepted 20 January 2015 Published 21 April 2015 Recent advances in simulation optimization research and explosive growth in computing power have made it possible to optimize complex stochastic systems that are otherwise intractable. In the first part of this paper, we classify simulation optimization techniques into four categories based on how the search is conducted. We provide tutorial expositions on representative methods from each category, with a focus in recent developments, and compare the strengths and limitations of each category. In the second part of this paper, we review applications of simulation optimization in various contexts, with detailed discussions on health care, logistics, and manufacturing systems. Finally, we explore the potential of simulation optimization in the new era. Specifically, we discuss ∗ Corresponding
author. 1550019-1
1550019.tex
Thank you much for your interests in our paper. Please download the full paper at the publisher web site: http://www.worldscientific.com/doi/abs/10.1142/S0217595915500190 It is free of charge. Chun-Hung Chen Professor Department of Systems Engineering & Operations Research George Mason University 4400 University Drive, MS 4A6 Fairfax, VA 22030, USA Tel: 703-993-3572 Fax: 703-993-1521 Email:
[email protected] Web: http://mason.gmu.edu/~cchen9/
