Most companies are structured into silos and therefore make silo’ed decisions. Disruptive events tend to help tearing down the walls as it becomes more and more apparent that decisions need to be thought through E2E. Disruption management further requires the ability to adapt to changing environments quickly. Keeping up with the market and changing conditions has evolved in a huge amount of digital twins – e.g. per production asset or of the supply and distribution network.
A key idea behind Industry 4.0 and the Internet of Things is connectivity. Connecting these silo’ed digital twins enables E2E planning with transparency along the process if done right. With AI methods (Machine Learning, Optimization and Simulation) on top of these connected twins we can gain insights from data, recognize patterns and prescribe what actions are best to take. So far the idea, well, the devil is in the detail. Is all data up-to-date, is the data and amount of information manageable, are the minds of people ready for connected decisions, or are these methods only for computer nerds?
We will shed some light on this, discuss best-practices and show-case how a holistic view based on digitization and IoT with a focus on:
- Simulation of large scale networks to assess overall impact of disruptions
- Generating insights on the connections between supply, production, logistics and sales
- Enabling managers to make better and more robust decisions faster