Optimizing Manufacturing Operations and Managing Supply Chain Risk with Monte Carlo Simulation

• Abigail Jacobsen

For manufacturers, COVID-19 revealed many vulnerabilities in today’s complex global supply chains. Lockdowns shut factories, border closures disrupted shipping routes, and sudden shifts in consumer demand resulted in swollen inventories for some companies and shortages for others. The war in Ukraine that began in 2022 added further uncertainty and disruption to supply chains, with sanctions and material shortages compounding the effect of conflict in central Europe.
“With climate change and geopolitical tensions expected to impact food and cause disruptions, now is the time for supply chain leaders to take initiative and be creative as to how they can invest and improve their operations,” said Dr. Madhav Durbha, Vice President of Supply Chain Innovation at Coupa in a PR Newswire article.

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