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
Supply Chain Transparency
Supply Chain Transparency refers to the extent to which a company discloses information regarding the practices, partners, policies, and origins within its supply chain.
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.
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.