While PSS type simualtion of extracted netlist, it takes a lot of time ( like 12 to 14 hrs). ( IC5141,MMSIM12)
Is there any ways of running things so that the simulations can exploit the Multicores in the machine/workstation.
OK, so it's not limited to 8 threads - you're running with 10 and it says it is running with 10. You have also set process affinity (although I advised you not to - you've actually set the processor affinity to wider than 10 CPUs - which is fine - but you need to be careful that there is not a second job running on the same machine with the same processor affinity; so bestnot to set it and let the OS take care of it).
Turbo is no longer in MMSIM (in MMSIM11.1 or MMSIM12.1 - as I said earlier, it was end of lifed.
There is discussion on APS in the documentation, and I suggest you read that. The idea with APS is that it doesn't compromise accuracy, but does provide accelleration by a combination of optimization techniques on what is being solved (e.g. filtering out parts of the circuit which will have no influence, such as dangling resistors, amongst other things), plus newer algorithms - e.g. a new matrix solver - plus smarter timestep placement - plus the ability to evaluate the device model code in parallel and also to do the matrix solve in parallel.