Mathematical programming and simulation are the main modeling approaches used for supply chain configuration. Previous chapters dedicated to discussing these approaches have identified both their strengths and weaknesses. Obviously, a modeling approach capitalizing on the strengths while avoiding the weaknesses is desirable for a comprehensive evaluation of supply chain configuration. Hybrid models combining optimization and simulation models have long been identified as an opportunity to exploit the benefits of different modeling techniques. This approach has been strengthened by the increasing computational power available to decision-makers.
KeywordsSupply Chain Optimization Model Manufacturing Cost Supplier Selection Mathematical Programming Model
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