The global market for digital twin technology is expected to by grow 60% annually and reach $73.5 billion by 2027, according to McKinsey. Nearly 70% of C-suite technology executives at large enterprises are learning about this technology,...
Read MoreThe rapid evolution of digital technologies has dramatically transformed manufacturing and operational landscapes with the advent of Industry 4.0. This new paradigm integrates cyber-physical systems, IoT, and advanced analytics into everyday production, revolutionizing how industries...
Read MoreSimulation-based optimization (SBO) is emerging as the next-generation approach to transforming decision-making processes across industries, empowering businesses to model complex systems, test solutions, and find better paths in an increasingly challenging landscape. By creating virtual...
Read MoreIn 2024, digital twin technology and discrete event simulation continue to solidify their roles as critical tools driving innovation, efficiency, and optimization across industries. Digital twins provide real-time, dynamic representations of physical assets, systems, and processes, while discrete event...
Read MoreIndustry 4.0 is causing a convergence of manufacturing processes and software in the industrial sector. This convergence is expected to provide manufacturing enterprises with the tools to implement diverse Industry 4.0 business models including condition...
Read MoreDisruptive change need not come at the expense of conventional or existing operational models. An excellent example that highlights the above statement is the widespread adoption of digitization in the manufacturing industry. Replacing paper and...
Read MoreThe introduction of Industry 4.0 in 2011 and the digital transformation that enables it led to an influx of new technologies to optimize traditional processes in the manufacturing industry. Artificial intelligence, which was predominantly utilized...
Read MoreThe mining industry has its set of specific challenges due to the nature of its operations. Stakeholders must navigate an industry dealing with increasingly stricter regulations, a growing skill gap as older workers retire, and...
Read MoreNuclear power has staked its claim as one of the most adopted clean energy sources used across the world. The widespread adoption of nuclear power is due to its ability to serve as an adequate...
Read MoreThe sales and operations (S&OP) process focus on coordinating the diverse areas of a business, from demand forecasting to manufacturing capacity; supply chain management to inventory availability, to responsibly meet customer demand. The conventional process...
Read MoreA recent survey from the National Association of Manufacturing has highlighted the impact of pandemics on manufacturing chain and manufacturing operations across the world. According to the survey, 80% of manufacturers are expecting the ongoing...
Read MoreThe Covid -19 pandemic which has affected global supply chains, social gatherings, education, aviation, and the economy as we know has become the topic of the day. Its effect on these areas of life have...
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