New: 2024 Deforestation Regulation Readiness report

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.

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Related terms

Deforestation Legislation

Deforestation Legislation encompasses the body of laws enacted by governments to control, limit, or entirely prevent deforestation globally.

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Immutability

Immutability refers to the characteristic of data or records that cannot be altered or deleted after being recorded. This principle is a cornerstone in the realm of digital transactions, underpinning the reliability and security of data management systems.

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Risk Assessment in Supply Chain

Risk Assessment in Supply Chain is the process of identifying, analysing, and managing the potential risks and vulnerabilities within a supply chain that could disrupt operations, impact profitability, or harm the reputation of the business.

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