Digital twins help evaluate key decisions within a week

Companies that can model their own supply chains and run through different scenarios are better able to respond quickly to disruptions. This is according to research by Supply Chain Media and Optilogic involving 144 supply chain professionals. During SCM’s Webinar Wednesday, Rob Carlisle of Argon & Co and Andrea Paciaroni of Accenture explored the findings of the survey in greater depth: ‘‘We can no longer entrust decisions involving millions of euros to spreadsheets.’’

When asked which disruption had hit their company’s supply chain hardest over the past twelve months, geopolitical instability scored highest at 68 per cent. Tariffs and trade restrictions came second (64%), followed by inflation and rising costs (56%). Andrea Paciaroni, network strategy practice lead at consultancy firm Accenture, is not surprised by the findings. ‘‘I am increasingly speaking to companies that are considering bringing their production back in-house or, at the very least, closer to home. The turmoil in geopolitics and international trade is forcing them to think about the parts of the supply chain over which they have no control.’’

This story was originally published by Supply Chain Movement. Read the full story at Supply Chain Movement →