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Monte Carlo Simulation in Manufacturing Industries Whitepaper

Monte Carlo Simulation in
Manufacturing Industries

Monte Carlo Simulation is a category of techniques used to predict the possible outcomes of an uncertain event, action, or any real-world system. The Monte Carlo Simulation, as a method, was developed by John von Neumann and Stanislaw Ulam in 1945 [1]. Since then, Monte Carlo Simulation has been applied in many fields, including project management, weather forecasting, stock market research, artificial intelligence research, as well as manufacturing industries. As a method, Monte Carlo Simulation can provide statistical predication under uncertain conditions, versus known inputs. Monte Carlo Simulation is used to predict the possible outputs with probabilities on the outputs as shown in Figure 1.


A manufacturing industry involves the assembly processes of components [2]. A manufactured product starts with Product Design, then Manufacturing Process Design, and finally Manufacturing Production in factories, as shown in Figure 2.



  • Executive Summary 
  • How Monte Carlo Simulation Works
  • Monte Carlo Simulation Tools for Manufacturing
  • Conclusion



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