The power of digital twins and concurrency
Abstract
Supply chains are complex ecosystems, so quickly assessing the short and long-term impacts of events in such an ecosystem is a formidable challenge. We all know that the faster these assessments can be made, the better chance we have of responding and making decisions that will mitigate risk and supply disruptions. For instance, the case study about P&G rapidly adjusting its plans to respond to hurricanes1 is a classic example of why it is critical to make fast assessments amid disruption. While we intuitively understand the value of rapid decision making, it is difficult to quantify and provide a return on investment (ROI) analysis supporting investments in digital twins and concurrent planning. Why? Disruptions typically affect a limited number of sectors and enterprises, their durations vary, geographical impact varies and other events could be happening at the same time. All of this makes it difficult to assess a before, during and after. And then along came COVID-19. The pandemic’s impact was global, across all sectors and almost all enterprises, with a duration of well over a year, with a clear start and relatively clear end. This paper discusses the power of digital twins combined with concurrent supply chain orchestration in risk assessment and decision making as well as the impact on key financial results.
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Author's Biography
Allen Jacques is an Industry Thought Leader at Kinaxis. A veteran planning and operations leader, he has served as Vice President of Global Technical Operations & Biologics and External Manufacturing for Leo Pharma, Vice President of Network Supply Planning at Pfizer, Vice President of Pharma Supply Chain at FusionOps, as well as holding Director-level roles at Baxter and Wyeth. He holds a BS in microbiology from the University of Maryland and did graduate studies in biochemistry at Johns Hopkins University.
Duncan Klett is a Fellow at Kinaxis (established in 1984), whose product RapidResponse offers an interactive tool for supply chain orchestration. As a professional engineer, BASc, and MASc Electrical, he has more that 40 years’ experience with analytics and software solutions. Duncan now acts on the strategy team providing thought leadership and as a liaison among supply chain practitioners, researchers, the Kinaxis design team and executives. He has held various positions developing real-time and computer-aided design systems with Bell Northern Research, Mitel Corporation and Kinaxis. He also has been involved with several professional and community organisations and regularly gives lectures at universities and industry events.
Morgan Swink is the Eunice and James L. West Chaired Professor of Supply Chain Management, and the Executive Director of the Center for Supply Chain Innovation at Texas Christian University. He is the former Co-Editor in Chief for the Journal of Operations Management, and he continues to serve in consulting and associate editor roles for several top journals. He is a Fellow and past President of the Decision Sciences Institute. Morgan has co-authored two supply chain operations textbooks, one managerial book on supply chain excellence and more than 100 articles in a variety of academic and managerial journals.
Citation
Jacques, Allen, Klett, Duncan and Swink, Morgan (2024, June 1). The power of digital twins and concurrency. In the Journal of Supply Chain Management, Logistics and Procurement, Volume 6, Issue 4. https://doi.org/10.69554/FRPS5083.
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