The Simulation Model Supports Decision-Making Processes

The Simulation Model Supports Decision-Making Processes
The optimization model is critical and utterly useful in supporting decision-making. It is an approach that targets finding the most efficient strategy for achieving an objective while at the same time simultaneously fulfilling all the constraints that are linked to this objective (Layeb et al., 2018). On the other hand, the simulation model aims to evaluate several alternatives under different scenarios that are rather realistic and that decision-makers have identified. Therefore, the simulation model supports decision-making processes through critical evaluation of options that are usually predefined (Layeb et al., 2018). However, it does not always generate the best strategies there can be.
Optimization is known to produce solutions that are of robust quality. On the other hand, simulation best analyzes practical scenarios while making minimal assumptions (Layeb et al., 2018). While both models are known to be effective and offer efficient results, they portray some disadvantages. For instance, an optimization model may make the problem oversimplified durin...