Simulation and optimization are common techniques in predictive and prescriptive analytics. Using the two techniques together provides supply chain strategists the benefit of actionable recommendations while accounting for the complex interdependencies and uncertainty present in every supply chain.
- Understand the Difference Between Simulation and Optimization Techniques
- Deterministic and Stochastic Optimization as Examples of Prescriptive Analytics
- Deterministic and Stochastic Simulation as Examples of Predictive Analytics
- Realize the Evolving Need for Simulation Capabilities
- Determine the Order of Simulation and Optimization Based on the Goal of Modeling
- Simulation and Then Optimization: An Example
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