Risk-informed simulation for sustainable product design decision making

Christian Enyoghasi, Fazleena Badurdeen

Research output: Contribution to journalConference articlepeer-review

5 Scopus citations

Abstract

This paper presents a risk-informed Monte-Carlo simulation approach for effective decision making by considering optimal product configuration design and the risk models for the product design. The proposed approach is demonstrated through an industrial case study by assessing the influence of inaccuracy in demand forecast identified as a high likelihood risk event on the total lifecycle profit for different optimal designs of a toner cartridge. The result provides valuable information to product designers and decision makers on the sensitivity of total lifecycle cost benefits feasible from different optimal designs in the event of a perceived high risk.

Original languageEnglish
Pages (from-to)399-406
Number of pages8
JournalProcedia Manufacturing
Volume43
DOIs
StatePublished - 2020
Event17th Global Conference on Sustainable Manufacturing 2019 - Shanghai, China
Duration: Oct 9 2019Oct 11 2019

Bibliographical note

Publisher Copyright:
© 2020 The Authors. Published by Elsevier B.V.

Keywords

  • Monte-Carlo simulation
  • Product design
  • decision making
  • risk-informed design
  • total lifecycle

ASJC Scopus subject areas

  • Artificial Intelligence
  • Industrial and Manufacturing Engineering

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