Supply Chain Unpredictability: How to respond using Digital Twin
In times of unpredictability, supply chain professionals require more sophisticated tools to make the right and highly accurate decisions in real time and for the coming future. Digital twin can help in predicting and managing disruptions, improving customer experience and preventing risks.
The webinar“Supply Chain Unpredictability: How to respond using Digital Twin” was held to explore the digital twin potential in more detail. Supply chain professional Maurizio Dezen, Sr. Consultant Value Chain & Purchasing Pablo Gonzalez and Natalie Lopadchak-Eksi, VP of Partnerships at GMDH Streamline reveal the theme of the capabilities of digital twin in supply chain.
Here are some key points of this event.
What is Digital Twin?
A digital twin is a complete copy of all assets, processes, and operational detail that go into supply chain. It is powered by advanced analytics and artificial intelligence.
“AI is simple and it is cost-effective. It’s a state of the art technology. Not only large companies can use it, all companies have access to it. Digital twin provides powerful tools from the traditional old school forecasting and demand planning and moves to modern, state of the art technology,”– says Maurizio Dezen.
How can Digital Twin level up decision making?
Streamline does a really nice job as a digital twin. It is powerful to perform what if scenarios. Digital twin is here to calculate what it will be if we change the assumption in concern of sales, supply and inventory plan.
How can Digital Twin help with risk management?
Step by step guide:
“When we are on the top management level we want to know where we are standing today and how we can compare it to the budget we have committed. We can also create scenarios to compare how our current projections are versus our budget. We can create actions to close the gaps, increase supply, our capacity, or supplier capacity”,– says Pablo Gonzalez.
How can Digital Twin ensure Simultaneous Team Cooperation?
Digital twin is a next level of S&OP implementation
“The backbone of S&OP is collaboration. You need a single source of truth. Something dynamic, that will reflect date to day of the business. We need a picture of what is happening now in the company. That is why the digital twin is so powerful, as you can make decisions as you go, and adjust,”– says Mauricio Dezen.
How complex could be the implementation of the Digital Twin solution?
The process of implementation the digital twin does not need to be painful. It is rather quick. The main constraint is getting all the information to the system. It’s a matter of few weeks to implement digital twin. Streamline functionalities are very complete and it doesn’t take a lot of time or money to do that.
The bottom line
Digital twin technology is an effective tool, that can be used to monitor real-time performance, simulate changes, and create predictive models that help companies make informed decisions when faced with supply chain unpredictability. Streamline digital twin software allows to boost the operational growth by identifying potential issues and providing visibility in real time.
Too much manual work in Excel?
See what Streamline can do for you
- 99+% inventory availability.
- Up to 99% forecast accuracy.
- Up to 98% reduction in stockouts.
- Up to 50% reduction in excess inventory.
- 1-5 percentage points margin improvement.
- Up to 56X ROI in one year. 100% ROI in the first 3 months.
- Up to 90% reduction in time spent on forecasting, planning, and ordering.