Simulation optimization in inventory management: a survey of recent contributions

Simulation optimization is increasingly popular for solving complicated and mathematically intractable real-world business problems. This article reviews recent applications of simulation optimization in inventory management. Following a brief discussion of different simulation optimization techniques, this article categorizes recent contributions on the basis of their simulation optimization technique and their inventory characteristics. In highlighting both trends and gaps in the research field, this review suggests avenues for further research.nrpages: 34status: publishe