Advances of modeling and simulation in supply chain and industry

Abstract

Some of the significant advancements in the field of modeling and simulation (M&S) in supply chain and industry are discussed. An M&S-based approach allows its users to recreate an artificial history of a real complex system so that it becomes possible to discover and evaluate alternative solutions taking into account different constraints and monitoring different performance measures. M&S is being widely used in different application domains ranging from supply chain and industry to military business service, health and wealth management to complex systems design to decision support tool development. The use of M&S as an advanced technology is also due to the advantages provided by information technology (IT). M&S also represents the critical element to protect the supply chain in terms of stability, robustness, and respect of newly introduced concepts, such as the supply chain resilience.

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