The main objective of this talk is the present some of our work towards the development of novel methodologies that facilitate intelligent decision-making and their application in the analysis of supply chains for chemical industries. Simulation models are used to depict supply chain dynamics so that they represent the decision-making by various entities. In order to obtain improved decision-making, hybrid simulation based optimization frameworks are proposed. These frameworks consider the decision rules followed by the different entities and guide the simulation model towards improved solutions. The benefits of these methodologies include a more realistic representation of supply chain dynamics and incorporation of risk and flexibility in the decision making process.