Professional
Track: Simulation
Rapidly Developing Optimizing Simulations and Overcoming Barriers to Implementation
Wednesday, April 14, 11-11:40am EDT
As the global market and supply chain evolve under great levels of uncertainty and businesses scramble to adapt, too many executives are “flying blind” by making far-reaching decisions in a short amount of time without adequate data and quantitative decision-support tools. The solution? Optimizing simulations, which help executives rigorously and quickly assess their options and the impact of the policies they create. In addition to supporting short-term improvements in organization goals like safety, productivity and profitability, these nimble, customizable tools help executives prepare their organizations for future challenges. In this session, we will describe a proven methodology for rapid development of optimizing simulations and share tactics to overcome barriers to their implementation and the resulting business process change.
Patricia Randall
Patricia Randall
Director at Princeton Consultants
Patricia specializes in the design, development, and implementation of large-scale, high impact systems that help businesses optimize their decision-making at the strategic, tactical, and operational levels. Her background in engineering enables her to successfully translate complex mathematical models to the messy realities of business. She leads development, testing, and deployment of optimization systems; managing business-critical advanced analytics projects in transportation, manufacturing, biotech, finance, and advertising.
In her optimization and analytics projects, she works on-site with client executives and subject matter experts, and with a team of optimizers, software developers, data scientists and mathematicians, using many different approaches and algorithms to create functional models that quickly deliver the best possible results for very complex, real-world problems. The optimization and analytics models are custom-designed for each client to capture the nuances of their individual business operations.
Patricia recently presented “Optimization Powers a New Operating Universe at Birchbox” as a featured speaker at Gurobi Days in Dallas in February 2020. She is the author of the cover article of INFORMS Analytics Magazine July/August 2018 issue, “How to Avoid Chaos in the Field by Combining Simulation and Optimization.” She was the lead guest presenter at AnyLogic Conference 2019 on simulation and optimization for a biotech manufacturer.
Patricia joined Princeton in 2007, and has earned promotions leading to Director, where she is responsible for leading Princeton teams to ensure complete client satisfaction and success. She holds a Ph.D in Industrial Engineering from Clemson University.
