Prøve GULL - Gratis
The Digital Replica - Digital Twins
Business Today
|June 12, 2022
Digital twins trigger process and business innovation across industries by creating a virtual double of machines and assets, think of it like the body double for stunts in movies only more complex

First introduced during NASA's Apollo missions in the 1970s, the concept of digital twins has come a long way in the past five decades. But what truly put it in the spotlight in recent times was the pandemic. Take the case of contract manufacturer Flex. When a leading global medical equipment company shortlisted Flex to manufacture its Class II diabetes product in the first quarter of 2020, it had a challenge on its hands. The US-headquartered company had to accelerate and optimize the development of the product in the wake of the Covid-19 pandemic while ensuring quality and reliability as any mistakes in the design or manufacturing process could put patients at risk. To optimize the manufacturing of this product, it created a digital twin of the factory floor. With the virtual representation of the complex production system, Flex tested how it would perform under various scenarios and gained insights into optimization tactics. Without simulation, this testing process would have taken at least three months longer. But our DES [discrete event simulation] tool allowed us to complete our optimization analysis in only three weeks, enabling our customer to get the product to market faster. This saved our customer time and money, says Paul Baldassari, Executive Vice President of Worldwide Operations at Flex. Plus, there were other efficiency gains-a 70 per cent increase in station output by optimizing work order sizes, 47 per cent more units produced per quarter, and a 15-21 per cent higher value-added process utilization.
Denne historien er fra June 12, 2022-utgaven av Business Today.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Business Today

Business Today India
BREAKING THE SILICON CEILING
INDIA'S FIRST COMMERCIAL FAB IS FINALLY TAKING SHAPE, BUT BUILDING A RESILIENT SEMICONDUCTORS BASE WILL TAKE FAR MORE THAN JUST CAPITAL
10 mins
September 28, 2025

Business Today India
WAITING FOR THE IPO WINDFALL
LIGHTSPEED HAS QUIETLY EVOLVED ALONG WITH INDIA'S START-UP STORY, ARMED WITH A $2.3 BILLION PLAYBOOK. NOW, IT AWAITS THE ULTIMATE PRIZE: A MARKET-DEFINING IPO
7 mins
September 28, 2025

Business Today India
RIGHT ON TARGET
TARGET MATURITY FUNDS ARE A GOOD OPTION FOR PREDICTABLE RETURNS BUT IT'S IMPORTANT TO LOOK AT THE INDEX COMPOSITION AND CREDIT RATINGS OF ENTITIES WHOSE SECURITIES ARE INCLUDED IN THE BENCHMARK
6 mins
September 28, 2025

Business Today India
TO A GOOD TIME
DISCOVER THE CRISP, CITRUSY OR BITTER WORLD OF BEER THROUGH HOMEGROWN BRANDS
3 mins
September 28, 2025

Business Today India
PASSING THE BATON
INDIA'S FAMILY BUSINESSES ARE REWRITING THE RULES OF SUCCESSION—ELEVATING PROFESSIONALS, BUILDING FAMILY OFFICES, AND SEPARATING LEGACY FROM MANAGEMENT
6 mins
September 28, 2025

Business Today India
A RARE SHIFT
AS THE SHORTAGE OF RARE-EARTH MAGNETS TURNS INTO A FULL-BLOWN CRISIS WITH CHINA'S IMPORT RESTRICTIONS, DOMESTIC PLAYERS ARE LOOKING BEYOND TO SUCCEED WITH THEIR EV PLANS
5 mins
September 28, 2025

Business Today India
Put energy where you can be the best
PARTHA BASU | MD, ASHIRVAD BY ALIAXIS
1 mins
September 28, 2025

Business Today India
Thematic Investing: Spotting Structural Themes Before They Become Mainstream
It's a truth well acknowledged in the markets, that extraordinary wealth is created when the investors spot a powerful theme before it captures the imagination of the crowd. To ride such a wave in its infancy, is to participate in returns—so outsized that they defy neat calculation.
2 mins
September 28, 2025

Business Today India
INDIA'S ETHANOL DILEMMA
INDIA ACHIEVED A 20% ETHANOL BLENDING IN PETROL THIS YEAR, FIVE YEARS AHEAD OF SCHEDULE. WHILE IT IS AN IMPORTANT STEP TOWARDS REDUCING CRUDE OIL IMPORTS, AUTO OWNERS ARE COMPLAINING ABOUT REDUCED MILEAGE AND DAMAGED ENGINES. DOES INDIA'S ETHANOL POLICY NEED A TWEAK?
7 mins
September 28, 2025

Business Today India
"GST cut is the manifesto of 1.4 billion Indians"
Finance Minister Nirmala Sitharaman on GST rate cuts, lessons from Covid-19, and more
7 mins
September 28, 2025
Translate
Change font size