Efficiency, Productivity, Time-saving, etc., are the terms that we frequently hear in the business world. But how exactly we can enhance them should be the discussion here. That is where you need the implementation of modern age technology known as ‘Digital Twin’. From streamlining the production process to boosting the visibility in supply chains, this solution serves you to achieve the best.
What exactly is a digital twin? What are those challenges that pull down your leg when you are trying to climb the ladder of business success? Also, how can Digital Twin aid you in solving them? This article will cover everything from scratch.
What is Digital Twin Technology?
It is an innovative concept in which real-world things like systems, processes, or products are digitally replicated to create ‘digital twins’ or virtual versions of them as its name suggests. These virtual representations can be continuously monitored, analysed, and simulated since they are linked in real-time with the real thing. Digital twins provide insights into performance, condition, and behaviour by gathering data from sensors and other sources, enabling predictive maintenance, process optimisation, and well-informed decision-making.
Not limited to one particular industry, sectors such as manufacturing, healthcare, and aerospace leverage this in today’s world. It helps to enhance efficiency, reduce downtime, and improve product quality as the best benefits. This technology is the way to revolutionise how businesses operate in the rapidly changing business context. Since it can provide a deeper understanding of physical assets and processes, it has the capacity to boost industrial productivity.
Key Productivity Challenges in Manufacturing Supply Chain
Inventory Management Challenges
Although it can often be difficult, inventory management is known as a crucial component of efficiency when it comes to the manufacturing supply chain. Keeping the right amount of inventory on hand is difficult since understocking can throw off production schedules. Also, it can tie up money and room for storage. The problem becomes double when the variations in lead times, supply chain delays, and demand swings occur.
The most dangerous fact is that ineffective inventory management can lead to higher carrying costs, less cash flow, possible expiration, etc. Also, poor visibility and communication among those who are involved in the supply chain will result in wrong estimates of demand and slow responses to market developments as an outcome.
Supply Chain Disruptions
When the supply chain is concerned, disruptions can occur from various sources, including natural disasters, geopolitical instability, supplier issues, or unexpected shifts in demand. They ultimately impact the smooth flow of resources, components, and information to be interrupted in this industry. What would be the final result?
As it is visible it can result in production delays, higher costs, and even dissatisfied customers. What makes it difficult to maintain production schedules and minimise resource usage is the unpredictability of such situations. As manufacturers must find the best solutions, they can develop strong risk management strategies, backup plans, and supply chain resilience initiatives to address these potential challenges in the supply chain.
Lack of Visibility and Communication
One thing we can notice in the supply chain operations is that all the parties work independently. But the problem here is it is challenging to successfully coordinate operational activities when several stakeholders, such as suppliers, manufacturers, distributors, and logistics partners, work in separation. That is also with little transparency. What are the consequences of this? This will lead them to zero ability to see current information on inventory levels, production status, and demand variations as an outcome.
The risk is it can result in wrong demand projections, incompatible production schedules, and ineffective resource allocation. Also, when there is a lack of accurate information in real-time, there can be a gap in response to the market demands. That is why supply chain processes need to have good visibility in communication.
How to Enhance Productivity in Manufacturing Supply Chain
Quality Control and Process Optimisation
Digital twins serve as invaluable tools for manufacturers by generating virtual replicas of both products and production processes. If we talk about the benefits of this, we must emphasise on real-time monitoring and ongoing quality control evaluations provided by these digital versions. When manufacturers are implementing this solution, they could proactively identify and fix quality concerns at their end.
This is beneficial because this can be done even before they materialise in physical products by utilising the data gathered from these digital twins. This proactive strategy not only lowers the likelihood of faults but also enables manufacturing process improvement.
Supply Chain Visibility
This has the potential to broaden their focus to include the whole supply chain, which varies from suppliers to distribution systems. This increased visibility gives businesses a dynamic, real-time perspective of the movement of components, completed goods, and raw materials across the whole supply chain system. Businesses can enhance collaboration among different stakeholders as the best outcome.
Accordingly, it improves the accuracy of demand predictions and enhances quick responses to supply chain disruptions by taking the best advantage of this visibility feature of Digital Twin. With the help of this thorough understanding, organisations can improve production scheduling, reduce stockouts and overstocking, and manage inventory more effectively. So, we can witness Digital Twin has gained more popularity in supply chain operations due to this functionality.
No More Errors in Inventory Management
As we discussed in the above sections, inventory management is something that can cause millions of dollars in losses when it comes to the supply chain. But now with the Digital Twin solution in place, this can be strengthened for sure. With the latter, businesses receive the power to efficiently improve their inventory management procedures when this data is connected with predictions of demand and production plans.
This clears the way for businesses to significantly lower the likelihood of extra stock, decrease shortages, and closely match their inventory levels to real demand. When the inventory issues are taken care of, 25% of the heavy-duty supply chain is over!
Providing Predictions on Maintenance
It is a valuable advantage of Digital Twin that it is enriched with predictive maintenance capabilities. Utilising data from them allows businesses to spot possible problems before they develop into serious difficulties that result in expensive downtime. This proactive approach to maintenance considerably increases overall equipment effectiveness (known as OEE), as well as the longevity and dependability of machines.
How can the supply chain benefit from this feature? As a result, businesses have fewer supply chain disruptions that can occur through unplanned maintenance. That is one way to ensure that production operations continue uninterrupted. This not only results in significant time and resource savings but also helps the industrial sector become more productive and competitive.
On-Point Production Planning
Planning plays a crucial role in supply chain operations. Businesses lead the way in improving their planning and scheduling procedures by using this skill to simulate and evaluate alternative production scenarios. They can achieve effective resource management, reduce production bottlenecks, and guarantee a smooth operation flow employing Digital Twin.
The result is a supply chain with more efficient and simplified procedures. In the dynamic business landscape in Singapore, it is important to retain competitiveness at the same level. This technology makes it possible for companies to encourage on-point planning for productions.
Cerexio Digital Twin Platform
Digital Twin technology, empowered by Cerexio’s latest industry 4.0 capabilities, comes out to streamline your business operations through its cutting-edge functionalities. As Cerexio aids you in remodelling your administrative efforts through its powerful visualisation and simulation capacities, this solution has become a ‘must-have tool’ for each industry.
Optimise Your Production and Business with Modern Tools
Since you have delved into the depth of the utilisation of modern technology in this article, you know how important it is to implement them when it is necessary. Technology is invented to streamline business processes, saving time, human labour, and costs. Therefore it is high time for you to leverage their power to get the best outcome.