Lean Six Sigma Application of Monte Carlo Simulation in Process Industries

On Thursday, November 6, 2008 Ed Biernat, CEO of Consulting with Impact will share the results of a recent Lean Six Sigma Project where his company utilized Monte Carlo simulation to uncover and predicate process inefficiencies.

The use of Monte Carlo simulation is growing in Lean Six Sigma applications. The ability to model actual data and then apply proposed changes to the model before modifying brick and mortar has significant appeal in capital-intensive industries including steel making. In this presentation, the Lean Six Sigma approach is detailed for a project to reduce steel inclusions in billet stock. Specifically, the modeling of the various queues in the process is analyzed to determine the potential impact of several proposed capital and process improvements. The team’s high level approach to the problem, their use of various tools including @RISK, as well as a detailed review of the queuing analysis are covered. Finally, the presentation explores the lessons learned and additional applications of simulation in this and similar projects.

I hope you can find the time to attend!

Please visit http://www.palisade.com/seminars/webcasts.asp to see the full schedule of upcoming free webcasts and to sign up for Thursday’s presentation.

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