Simulation-Based Optimization in Transportation and Logistics: Comparing Sample Average Approximation with Simheuristics

Simulation-based optimization (SBO) refers to a series of simulation-optimization methods that are employed to solve complex optimization problems with stochastic components. This paper reviews some recent applications of SBO in the area of Transportation and Logistics. This paper presents the stochastic variants for the team orienteering problem to show the application of the SBO solving methods. Similarly, we make a comparison of two of the most popular ones: the sample average approximation method and the simheuristic algorithms. Finally, the paper concludes by considering the value of the aforementioned approach and outlining further research needs.