Network Planning - Network design - Solution techniques
5 important questions on Network Planning - Network design - Solution techniques
Which two techniques are usually employed in optimizing the configuration of the logistics network?
- Mathematical optimization techniques that include:
a) Exact algorithms that are guaranteed to find optimal solutions, that is, least-cost solutions
b) Heuristic algorithms that find good solutions, not necessarily optimal solutions. - Simulation models that provide a mechanism to evaluate specified design alternatives created by the designer.
What is the value of optimization-based techniques?
What is the value of simulation-based techniques?
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What is included in a simulation-based techniques?
- Individual ordering pattern
- Specific inventory policies
- Inventory movements inside the warehouse
When detailed system dynamics is an important issue, it makes sense to utilize the following two-stage approach. How can advantage been taken of the strengths of both simulation- and optimization-based approach?
- Use an optimization model to generate a number of least-cost solutions at the macrolevel, taking into account the most important cost components.
- Use a simulation model to evaluate the solutions generated in the first phase.
The question on the page originate from the summary of the following study material:
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