What is a Digital Twin?
A Digital Twin is a digital replica of a physical object, process, system, or service. This concept allows for the simulation, analysis, and control of real-world entities through their digital counterparts.
In supply chain management, digital twins can model and monitor supply chain operations, predict outcomes under various scenarios, and optimise performance. They offer a powerful tool for enhancing visibility, efficiency, and decision-making in supply chain traceability, allowing companies to simulate impacts, test changes, and implement improvements in a virtual environment before applying them in the real world.
Related terms
Accountability
Accountability ensures that companies can verify the integrity of their supply chains, uphold compliance with environmental and social standards, and respond to any discrepancies or issues with honesty and corrective action.
Timber Traceability
Timber Traceability refers to the ability to track the origin and movement of timber and timber products through all stages of the supply chain, from the forest to the final consumer. This process involves documenting each step of the journey to ensure the legality and sustainability of the timber sourced.
Distributed Ledger Technology (DLT)
Distributed Ledger Technology (DLT) refers to a decentralised database that is consensually shared and synchronised across multiple sites, institutions, or geographies, making it accessible to multiple participants.