A Review on Simulation Optimization

Abstract

One of the primary and most important employments of simulations is for optimization. Simulation optimization can be characterized as the way toward finding the best info variable qualities from among all potential outcomes without unequivocally evaluating each possibility. The goal of simulation optimization is to minimize the assets spent while boosting the data acquired in a simulation experiment. The purpose of this paper is to review the zone of simulation optimization. A critical review of the methods employed and applications developed in this generally new range are introduced and striking victories are highlighted. Simulation optimization software tools are discussed. The target group is simulation practitioners and theoreticians and additionally fledglings in the field of simulation.