Development and validation of simulation-based stress test for resilience assessment in manufacturing companies

Objective

The objective of RESISTTE is to develop and validate a scalable banking-inspired simulation-based stress test tool for shop floor resilience assessment under realistic disruption scenarios, considering 6 disruption effects. It will be realized by: - Creating a generally applicable model for shop floor resilience assessment inspired by the stress test approach for European banks. This includes European Banking Authority stress test methodology analysis and its relevant elements integration with simulation components for basic shop floor and logistics processes, disruption effects dynamics, and recovery actions. - Training an existing Large Language Model, for predicting the regions- and manufacturing fields-based probability of various types of external disruptions. LLM will be contextualized and feed with a news database. Retrieved next period disruption predictions will be converted into shop floor disruption effects providing input for realistic simulation scenarios. - Implementing and validating the simulation-based stress test tool prototype that integrates stress scenario prediction application to the shop floor resilience assessment model. This includes the computational simulation of manufacturing processes, disruption effects and recovery actions according to the developed model. The tool will be first tested in laboratory environment and thereafter in industrial settings. Such simulation-based resilience assessment tool will be efficient tool for manufacturing managers and CEOs for mapping the shortcomings and planning new investments and changes for increasing the shop floor resilience level. In addition, it will enable banks to improve the strength of their loan portfolio by applying the test to the manufacturing sector applicants before their financing decisions, simultaneously widening the range of creditworthiness manufacturing companies.