Keeping it real time
The benefits of having a digital twin are profound. As it mirrors the supply chain’s assets, transactions, third-party relationships and other operational details, the digital twin enables sophisticated real-time monitoring and swift adjustments in response to changing circumstances. It allows companies to quickly model potential scenarios and prepare for different eventualities.
A digital twin enables companies to run a parallel version of their supply networks which contains the same supply entities, parameters, and financial targets to detect problems and help management make rapid decisions that enable competitive agility and align with customer preferences with a high degree of confidence.
A prime example is the use of digital twins to create optimised production schedules which can respond to changing demand in real time.
Digital twins can also be used to satisfy customer demand for greater transparency. They can deliver information which goes beyond the sourcing of product ingredients, to letting customers know where their product has been, where it is on the shipping route and exactly when it will be delivered.