Monte Carlo Analysis in Supply Chain using Excel

Watch the video above...

#montecarloanalysis #supplychain #excel

Monte Carlo is used to simulate uncertainties, we just need to mathematically model the uncertainty and simulate it. This video shows us how to simulate the uncertainty in supply chain using excel.

Supply Chain experiences various #uncertainty everyday like currency fluctuation, variation in freight charges, supply & demand fluctuation. Business has to evaluate and validate these uncertainty to #mitigaterisk

After watching this video, you can easily understand on how to create simulation using excel and how to use the simulation to validate the system

We had talked about forecasting using excel in this video, if you want to know about it, please watch our video - https://youtu.be/1nXLyYd4fbI

Yasai Excel add in can be downloaded from - https://http://www.yasai.rutgers.edu/downloads.html

00:00 Intro on Monte Carlo

02:00 Excel add-in

04:10 Explaining Supply Chain Uncertainty - Business Problem

10:00 Simulation

13:56 Result Validation

19:08 Conclusion

If you have any queries, please post it in comments section...