The Impact of Digital Twins on the Supply Chain

Applied Tech Review | Tuesday, August 09, 2022

Digital twin is revolutionizing industries by fostering innovation and enhancing productivity.

FREMONT, CA: The technology of digital twins is a virtual representation of a system or product throughout its existence. The built environment utilizes simulation, logic, and machine learning to aid decision-making.

The digital twin concept dates back to the 1990s, over three decades. However, introducing new technologies, like artificial intelligence, machine learning, and predictive analytics has broadened the application of digital twins beyond manufacturing and engine design.

Today, it is rapidly developing into many forms across industries, allowing businesses to foresee and produce with greater precision and foresight. It may even contain the key to the metaverse's prosperity.

By amplifying model-driven decisions, digital twin solutions are revolutionizing manufacturing, healthcare, retail, and many other industries. Examine how the major industrial markets are incorporating the digital twin concept into their business models.

Performance forecasting: Businesses may quickly virtualize product packaging and test for problems before packaging the asset—applications of digital twin technology aid logistical organizations in determining material feasibility.

Shipment security: With simulations using digital twin insights, logistics companies assess how packing circumstances impact product delivery.

Functional efficiency and warehouse layout: Digital twins enable logistics companies to test warehouse layouts to select the most effective warehouse design to enhance operational performance.

Establishing a logistical network: A digital twin of a road network contains data regarding the route's layout, traffic conditions, construction, etc. With the gained knowledge, logistic companies may create locations for inventory storage and distribution routes.

Since the digital twin is a dynamic, up-to-date representation of a physical thing, it never ceases to evolve and generate real-time output. This is likely why digital twin models are extensively adopted across all digital landscapes.

Accelerated risk evaluation and manufacturing: Enterprises can validate a product before it exists in the physical world via digital twins. Businesses can develop a duplicate of the production process to discover potential process faults. Consider the savings on product malfunction costs.

ADVANTAGES OF DIGITAL TWIN TECHNOLOGY TO BUSINESSES

Companies can also interrupt the system to generate unanticipated events, develop appropriate mitigation techniques, and observe the system's response. This new capability can boost risk assessment, accelerate the creation of new goods, and improve the reliability of the operation line.

Predictive maintenance: Since the digital twin's system and IoT sensors generate massive amounts of data in real-time, enterprises can proactively analyze this data to discover system issues. This capability enables firms to precisely schedule predictive maintenance, reducing downtime and maintenance expenses.

Collaboration among group members: One of the most underappreciated advantages of digital twin technology is the enhancement of productivity and teamwork. Access to the system is available 24 hours a day, seven days a week, and process automation enables a seamless data flow and efficient operations.

Real-time remote monitoring: Obtaining a comprehensive, real-time perspective of a vast physical system remains difficult for many businesses. Digital twin permits concurrent accessibility, allowing remote monitoring and management of system performance.

Better financial decision-making: A virtual representation of a physical product can incorporate financial information such as the cost of materials and labor. Big data and advanced analytics allow it to visualize potential economic outcomes and make quicker, more reliable decisions.

These advantages are not limited to a single dimension. Enterprises may digitally convert their organization without significant downtime challenges using digital twin technology solutions.

Read Also

follow on linkedin Copyright © 2022 www.appliedtechnologyreview.com All Rights Reserved | About us |Subscribe
Top