Optimization provides a powerful method to quickly search and identify simulation scenarios that yield the desired outcomes. The latest advancements in integrating optimization technology with evaluation techniques that model the complex production process flow environment have enabled improved decision-making by the diverse set of managers involved in extracting the most value from the factory. Expected benefits from these improved decisions include: increased throughput, reduced inventories, lower costs, increased return on assets, reduced lead times, and greater customer satisfaction.
This paper begins with a discussion of the powerful method of integrating optimization and evaluation techniques to enable a best in class approach to solving factory resource allocation problems. Next, a practical factory setting example is illustrated using OptTek System’s software. Following a discussion of the improved decision making resulting from the use of OptTek’s solution, the paper concludes with a depiction of recent advances in combining metaheuristic procedures with classical optimization methods.
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