Simulation Optimization Approach to Strategy Development

Planning, scheduling and economizing of R&D projects are categorized as most complex business activities. Moreover new high tech, dynamic and complex production systems cause more limitation in decision making process in analytical models. Many factors affect the success of a research project, limited by financial, operational and timely issues base on accidental nature. Today, computer simulation systems with its capability of formulation are popular among experts. But defining the best solution approach always remained as a challenge. Simulation optimization is an answer to this challenge. This research deals assessing R&D projects under complex factors in uncertain condition, with the help of optimization methodology .It follows with a financial method to assess development strategy considering sales income versus total cost. The model has been practiced in a commercial department including sensitivity and model analysis. The research includes tables and diagrams of mentioned practice

Keywords:

Commercialized , Business Modeling , Simulation , Optimization , Research and Development