Optimization of business processes helps to increase the efficiency of the enterprise by reducing the production time, the number of operations performed with the product and the number of people involved in the process, which allows you to significantly reduce the cost and at the same time retain product quality. One of the most common and effective methods of improving business processes is simulation modeling. This technology allows you not only to visually display the structure, but also to simulate the behavior of the system over time. This study focuses on the study of the possibilities of using simulation modeling to manage business processes of companies in the industrial sector in the context of Industry 4.0. In order to assess the relevance and practice of modeling in management and the use of modeling in industry, an analysis of world publications by the PRISMA method was conducted. Based on the results of this analysis, two main types of publications were identified: universal studies, the results of which can be used in modeling business processes of industrial companies from various sectors of the economy; highly specialized publications aimed at researching fairly specific business processes. In order to find out which simulation methods are the most suitable for modeling various types of business processes, industrial enterprise processes were classified by the type of the most suitable simulation methodology. These developments can be applied to simplify the process of choosing the type of simulation modeling for solving various organizational and managerial tasks. For demonstration purposes, a simulation model of the supply chain was developed, which allows you to track the ability of existing industrial enterprises to fulfill orders for the supply of products to customers in full, and also helps to choose the best location for a branch or warehouse. The functionality of geoinformation systems used in the model allows us not only to visually display the process of delivering products to consumers, but also to calculate transport costs, since vehicles in the model move along a route similar to the real one.