The escalating force of the Supply Chain Planning (SCP) based upon learning machines systems brought about the Digital Twins.
Digital Twins approach is now of great importance as a data-model applied in high-quality decision-making, and is also considered as the best ‘what-if-scenario’ planner. It lets us to precisely assess the resilience of a complicated-echelon-global Supply Chain (SC.)
Ten facts about the Supply Chain Digital Twins:
· Digital Twins are a digital replica of a living or non-living physical object.
· It can replicate assets, processes, people, places, systems and devices used for a different purpose.
· There is a link between the physical model and the corresponding virtual model or virtual counterpart.
· This connection is created by producing real-time data using sensors.
· Digital Twins encompass the Internet of Things (IoT), Artificial Intelligence (AI) Machine Learning (ML) and Software Analytics with spatial network graphs.
· It creates a living digital simulation model that update and change as the physical counterparts change.
· It constantly learns and updates itself from multiple sources to represent its near real-time status, working condition or position.
· Digital Twins are hardly ever exact copies.
Digital Twins probably will not foretell the complete information. Unpredicted demands can indicate in-progress changes and the need for extra corrections.
· The range and the diligence of the simulation are determined by the significance of data it has to the value chain.
Digital Twins generate benefits such as upgraded Procurement, business planning, improved sourcing, and supplier management. For instance, when assessing the impact of random outcomes on the SC, such as flood or drought events with the urgent need to close down distribution centres, that affect too, sales promotions on demand, inventory, distribution or customer-service levels.
How do you build a Supply Chain Twin?
You must efficiently coordinate the operational and financial areas via operation planning and sales schemes. The business model must be assessed compared to an economic-structural design – profits, revenue, cost optimisation, Return on Investment (ROI) – and an approach to evaluate improvement both, of products or services while in progress.
From a technology point of view, the essential software must be capable of eventually organise all information that can likely influence the SC. It means it must know how to consider all sort of info – from regular SC contributions to innovative-business sources (like Customer Relationship Management (CRM) data) and still confused-online data that is influencing the demand sensing.
The underlying technology of the SC Twins is a planning software platform capable of shaping the complete SC, beginning from the demand indication through the supply. Now, SCs are complicated-organised-flexible systems which procedures run in a lot of courses, frequently at the same time. As Gartner explains, the value of responses or evaluations produced by the software is significantly influenced by the attributes of such data pattern, or how well the simulation shapes reality at the exact moment at which the responses are produced.
CONCLUSIONS: The experience of the world largest manufacturers when taking advantage of a Digital Twins approach all through its entire distribution network with master data, allows them to convert their processes from a regional to a global-integrated-planning simulation.
It facilitates planners to move from working locally to being capable of making global decisions centred on maximum-data visibility and to have complete control of their reference data.
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