The Role of Digital Twin Technology in Transforming and Managing Industrial Supply Chain Risks

Natalia N. Trofimova () and Vladislav I. Afanasiev ()
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Natalia N. Trofimova: St. Petersburg State University of Aerospace Instrumentation
Vladislav I. Afanasiev: Atelier Saunas Ltd

Economic Consultant, 2022, vol. 4, issue 4, 33-41

Abstract: Introduction. Investigating the impact of digital twins (DT) on supply chain resilience in economic crises or unexpected changes such as a pandemic is a current research challenge. The paper aims to analyze the potential applications of DT in supply chain formation. Materials and Methods. The study materials were research articles from peer-reviewed journals covering the latest developments in digital twins. The article uses a case method (the example of the Siemens Company). Research Findings. With the help of DT technologies, today’s industry is empowered to solve a wide range of online problems covering all interrelated aspects of the enterprise: research and development, manufacturing and assembly, marketing and sales. As awareness of the economic benefits of DT technology grows, its application will increase in various fields to drive industrial restructuring and modernization. Conclusion. Using DT in supply chain optimization has several advantages. In particular, manufacturing companies can use DT to optimize processes, reduce costs, and improve efficiency. Real-time route optimization and inventory management can minimize delays and congestion. The role of DT in supply chain optimization is becoming increasingly important. They can significantly reduce risk, improve efficiency, and promote flexibility. Implementing such technologies will undoubtedly be a hot topic for research and practical initiatives in the coming years.

Keywords: digital twins; industrial innovation; digital technologies; sustainability; risk management; supply chain development (search for similar items in EconPapers)
JEL-codes: M11 M19 (search for similar items in EconPapers)
Date: 2022
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