Reducing computation time of stochastic simulation-based optimization using parallel computing on a single mutli-core system

This paper presents a framework for implementing a simulation-based optimization model in a parallel computing environment on a single multi-core processor. The behavior of the model with multicore architecture is studied. In addition, the impact of multithreading on the performance of simulation-based optimization is examined. The framework is implemented using the master/slave paradigm. A case study is used to demonstrate the benefits of the proposed framework.