Risk-informed simulation for sustainable product design decision making

Christian Enyoghasi; Fazleena Badurdeen

doi:10.1016/j.promfg.2020.02.195

Risk-informed simulation for sustainable product design decision making

Christian Enyoghasi, Fazleena Badurdeen

Research output: Contribution to journal › Conference article › peer-review

7 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 language	English
Pages (from-to)	399-406
Number of pages	8
Journal	48th SME North American Manufacturing Research Conference, NAMRC 48
Volume	43
DOIs	https://doi.org/10.1016/j.promfg.2020.02.195
State	Published - 2020
Event	17th Global Conference on Sustainable Manufacturing 2019 - Shanghai, China Duration: Oct 9 2019 → Oct 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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10.1016/j.promfg.2020.02.195

Cite this

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title = "Risk-informed simulation for sustainable product design decision making",

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.",

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author = "Christian Enyoghasi and Fazleena Badurdeen",

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AU - Badurdeen, Fazleena

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AB - 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.

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KW - Product design

KW - decision making

KW - risk-informed design

KW - total lifecycle

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EP - 406

JO - 48th SME North American Manufacturing Research Conference, NAMRC 48

JF - 48th SME North American Manufacturing Research Conference, NAMRC 48

T2 - 17th Global Conference on Sustainable Manufacturing 2019

Y2 - 9 October 2019 through 11 October 2019

ER -

Risk-informed simulation for sustainable product design decision making

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

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