This is the sixth and last blog in the “Network of Digital Twins” series.
We plan in a perfect world, but we execute in the real world.
And in the real world, as they say in America, “shit happens.” If things don’t go according to plan, we must adjust and respond.
Today’s supply chain companies have to be prepared for whatever comes their way. Unfortunately, many lack access to the real-time data and responsive planning systems they need to efficiently plan for the future and meet ever-growing customer demand.
So what’s a business to do?
Unlocking your company’s full planning potential requires greater visibility
By leveraging Internet of Things (IoT) technology and creating a digital mirror of your supply chain operations, you can gain the visibility you need to transform your business into an intelligent enterprise.
This will provide the information and insights required to conduct continuous, real-time planning to consistently realign plans and satisfy customers.
Planning for spikes in demand with digital twins
When Oprah Winfrey announces her annual Favorite Things list, she always causes an uproar.
Customers race to their mobile devices or flock to the nearest store to snatch up the Oprah-approved goodies.
If one of your company’s products appears on Oprah’s list, you’re overjoyed by the endorsement – and all the additional business it’s sure to bring with it. That is, as long as your supply chain can handle the spike in demand.
Without a responsive business planning process, you could struggle to produce, store, and ship the extra products. Fail to execute and your prospective customers will be sorely disappointed – and you’ll miss out on a phenomenal opportunity.
Enabling a digital mirror of your business
Attaching IoT sensors to your assets and equipment, creating digital twins of those objects, and sharing the data both within your organization and with your supply chain partners can help you avoid any potential planning disasters.
But what exactly can you replicate with digital twins to help improve your current planning processes? Virtually anything, including:
- Customer demand: Capturing real-time information about your customers from both structured and unstructured data will give you a picture of actual demand. What products are trending – and where? What events are happening that will affect both demand and delivery? How will weather forecasts affect the need for certain products? All this information is critical to gaining a 360-degree view of customer demand.
- Manufacturing: How much are you currently producing? How much are you capable of producing? How much capacity do you have available in your own, or contract manufacturers plants? How can you adjust your current plans? Creating a digital twin of your manufacturing facility allows you to answer all these difficult questions.
- Logistics: Digital twins of your manufacturing facility, warehouse operations, and transportation processes provide glimpses of your existing and projected inventory – as well as where to find it. And with full visibility, you can better plan whether to manufacture additional inventory, reassign existing inventory, or even reroute in-transit inventory to a new Destination.
Based on this real-time information – rather than some outdated forecast history – you can update your planning projections and put yourself in a position to better anticipate your customers’ growing needs.
Transforming your business into an intelligent enterprise
Whether Oprah’s causing your products to fly off the shelves or something else is driving your company’s sudden popularity, one thing’s for sure: Employing state-of-the-art planning processes will be the difference between coming through for your customers or letting them down.
By transforming your business into an intelligent enterprise with digital twin capabilities, you’ll unquestionably have the game-changing planning tools you need to see what’s happening in your supply chain – and execute it, too.
To learn more, register for the Digital Twin info brief.
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