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Sunday, January 27, 2019

Risk Mgmt Unit 4: Using Blockchain to Eliminate Counterfeit Electronics: Scenarios and Simulations

Learn how to develop probabilistic models using machine learning and other analytic tools to identify and quantify risk. Identify effective ways to use scenarios and simulations, especially in a collaborative environment or context, to identify risks and manage them by using all available combinations of resources. Describe how blockchain is revolutionizing the supply chain.

Unit Presentation:


PDF (contains links to readings, etc.)
Scenario 4:  Using Blockchain to Eliminate Counterfeit Electronics: Scenarios and Simulations

Emily and Charles are worried. They’ve agreed to put sensors on all the pumps, gas gathering systems, in pipelines, injection wells, and disposal wells.

They hope to eliminate the need for field techs to have to check installations every day, and they want to be able to predict maintenance schedules, as well as where / when to maintain corrosion control, and when to replace equipment. They want to move away from a rigid schedule of maintenance and move to a more “reality based” maintenance and replacement.

However, they are worried. Their entire model depends on high-quality sensors and electronic components that do the job they’re supposed to do.

They’ve come to find out that an alarming percentage of electronic components are counterfeit, which means that they do not do what they’re supposed to do. That’s a terrifying thought when one considers that all the decisions are made based on the readings that the sensors and components deliver via the Industrial Internet of Things (IIoT).

Your Task: Help Emily and Charles come up with a plan to make sure that all that the components they have are authentic.

• Develop a plan for Emily and Charles to work with their suppliers to use Blockchain technology to assure authenticity.

• Also, help Emily and Charles develop a plan to use the information from the IIoT to determine when and how to maintain and replace equipment.

• Explain to Emily and Charles how to brainstorm using mind-mapping and role-playing with other team members.

• Develop recommendations for both supply chain integrity (using blockchain) and maintenance / replacement protocols and best practices for the company.


Thinking about Scenarios:

 How to do them
 Define the elements
  What can happen?
  Who is impacted?
  Who can do anything?

 Mind maps


 Group activity (collaborative online and face to face)
 What is the information that you need?
 What is the situation?
 What are the variables?
 What can be controlled?
 What is the flow? (mapping / workflow)
 How to get started:  software
 Dealing with complexity
 Possible outcomes: listing / prioritizing
 Quantifying possible consequences


Future directions:

What is Blockchain Technology?  A Step-by-Step Guide for Beginners

Blockchain Fundamentals:

“Every time a product changes hands, the transaction could be documented, creating a permanent history of a product, from manufacture to sale”

Vorabutra, Jon-Amerin, (2016) Why Blockchain is a Game-changer in Supply  Chain Management Transparency.

TAMUT  MBA in Energy Leadership: Click link to apply - more information

For more information about the courses (and this full course), please contact me.

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