What are Digital Twins? They are digital representations of physical supply chains. The key is that users can upload past order data – including costs, prices, and supply and demand forecasts – to create a detailed digital representation of a physical supply chain. These data provide vital statistics to users and business partners. In fact, Hans Thalbauer, CEO of Google Cloud, told Datanami last year that digital twins could help companies improve the sustainability and efficiency of their supply chains.
The concept of digital twins isn’t new, but the technology behind them is still largely untapped. Many companies are not using digital twins to their fullest potential, but they are starting to make use of them. The advantages of digital twins for innovation are many. One of them is that they can be applied to existing systems. As a result, enterprises are more likely to implement them to improve their customers’ experience and make their products even better.
Google is now working with system integrators to build a digital twin for their Supply Chain. The twin is the core of the solution, with a user interface developed with Looker and Google Workspace. The Supply Chain Twin uses BigQuery and Google Workspace to make a visual representation. The Supply Chain Twin also uses artificial intelligence (AI) to detect defects in manufactured goods. In addition to manufacturing, supply chains are also undergoing a renaissance, and business owners are looking to modernize their factories. A survey by PricewaterhouseCoopers in 2020 predicts a boost in efficiency in manufacturing due to digital transformations. One McKinsey research estimates that the value creation potential of Industry 4.0 is $3.7 trillion by 2025.