A Lexicographic Nelder-Mead simulation optimization method to solve multi-criteria problems

  • Authors:
  • Glenn W. Kuriger;F. Hank Grant

  • Affiliations:
  • Department of Mechanical Engineering - Center for Advanced Manufacturing and Lean Systems, University of Texas at San Antonio, One UTSA Circle, San Antonio, TX 78249, USA;Department of Industrial Engineering, University of Oklahoma, 100 East Boyd, Suite R-208, Norman, OK 73019, USA

  • Venue:
  • Computers and Industrial Engineering
  • Year:
  • 2011

Quantified Score

Hi-index 0.00

Visualization

Abstract

Simulation optimization is an approach that is used to solve problems involving stochastic components. This paper presents a Lexicographic Nelder-Mead (LNM) based simulation optimization (LNM-SO) method to solve multi-criteria simulation optimization problems. The method is designed to be relatively easy-to-implement and be applicable to a wide range of problem domains. To effectively evaluate the overall performance of this method, a Time-Quality Estimator (TQE) was developed to evaluate the performance of LNM-SO in terms of both quality of solution and computational speed. Computational results of five different test problems showed that the method was highly effective.