Amrita School of Business, Coimbatore campus, organized a Monte Carlo Simulation workshop on April 24, 2023 (Monday) from 3.30 pm to 5.30 pm. The workshop was held in hybrid mode. Dr. P. N. Ram Kumar, Professor in Quantitative Methods and Operations Management Area at the Indian Institute of Management, Kozhikode, was the resource person. His primary research expertise lies in the areas relating to transportation network optimization, military logistics, vehicle routing, and scheduling.

The workshop gave an overview of the history and development of Monte Carlo Simulation. The speaker highlighted the importance of simulation in modern decision-making, from its early applications during the second world war to more modern applications in various managerial contexts. The brief explanation was followed by hands-on training in which an overview of the methodology’s application with a practical session using MS Excel was explained. Dr. Ram Kumar highlighted various methods of applying Monte Carlo Simulation using simple Excel commands. 27 ASB faculty members and Ph. D. scholars broadened their technical skills through this workshop.