In today’s competitive landscape, from automotive to portable devices and rapidly growing internet of things (IoT) applications, cost and time-to-market are critical factors that determine a company’s success or failure. At the core of every electronics system is a chip, typically a system on chip (SoC) that has to meet multiple conflicting requirements—functionality, power efficiency, reliability, cost and schedule. Meeting these requirements poses a major challenge especially for the SoCs designed using advanced processes where thermal and other reliability factors dominate. Ensuring that they meet power and reliability requirements requires a simulation-based solution supported by a suite of accurate multi-domain models.