Denmark, Aarhus

Simulation-Based Optimization

when 1 August 2011 - 19 August 2011
duration 3 weeks
credits 5 ECTS

Most optimization problems in industrial systems require new solution approaches. Often simulation is used. However simulation can provide only performance estimations for given variants of the system. Simulation is not an optimization. But we can combine simulation with some optimization procedures to a search procedure for optimal respectively sufficiently good solutions. That approach is called simulation based optimization or shorter simulation optimization. Through examples from such important application areas as logistics, inventory, and queuing models we demonstrate the applicability of the approach. Course offered by Department of Business studies, Aarhus School of Business, AU.

Course leader

Peter Köchel, Technische Universität Chemnitz

Target group

Despite the fact that the course material is self containing it is necessary to have basic knowledge in mathematics (bachelor level), especially probability theory. Furthermore it will be advantageous to have some insights into design and control problems in industry. Generally necessary skills are the ability for independent work, creativity and above all interest in an actual and still developing approach to handle design and control problems. To solve more complex and realistic case works basic programming skills will be helpful. For the preparation to the course use a textbook on simulation and on evolutionary procedures. A brief overview on the topic can be found in the research paper by Köchel.

Course aim

The course introduces the participants into an interesting and fast developing new approach to solve complex decision problems. The course topic is at the interface of applied mathematics, economy, industrial management and computer science. The student acquires basic competences to apply the simulation based optimization approach to several practical relevant fields, above all to logistics, inventory, and queueing systems. In detail these competences comprise the:
- Modelling of stochastic decision problems,
- Simulation of discrete event systems,
- Choice, design, and application of evolutionary procedures.
With the obtained knowledge the student will be enabled to study relevant scientific literature and to realize own projects.

Fee info

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