Businesses continue to suffer from disruptions in global supply chains. Therefore, SAS and Cosmo Tech, developers of complex simulation and digital twin supply chain technology, have entered into a collaboration. The goal is to help companies use data and technology strategically to gain a competitive edge.
The two companies will leverage their shared expertise to develop a hybrid artificial intelligence-driven digital twin solution that integrates needs planning and forecasting with production and inventory planning. In this way, they try to increase the resilience of the supply chains. “The best way to respond to unexpected events is to anticipate them well in advance. And the best way to do that is to pre-model potential reactions to events,” said Brian Kilcourse, managing partner at Retail Systems Research. to combine advanced analytics technology with digital twins. “
More robustness for vulnerable supply chains
People hardly think about the complex global processes involved in the production of everyday goods. Manufacturers need to adapt the right flow of suppliers, raw materials and specialized processes with unforeseen shifts in consumer demand. Whether it’s producing Kevlar truck tires in the Alps or delivering bags of sea salt and vinegar to a distribution center in Rotterdam, manufacturers have to take an infinite number of variables into account. With all these variables, it is impossible to rely on spreadsheets alone to remain profitable. This is where analytics and digital twins come in handy. These technologies can deliver far-reaching improvements in supply chain management.
Intelligent Planning Suite
“It is difficult for supply chain managers to predict the impact of a decision, disruption or unexpected event on the entire organization,” said Hugues de Bantel, co-founder and CEO of Cosmo Tech. “The combined technologies of SAS and Cosmo Tech not only allow companies to see in real time how they are doing, but also how they will perform, even in situations they have never experienced before.”
The joint solution from SAS and Cosmo Tech will, among other things, address the following business issues:
• Maintaining production quality and reducing waste.
Absorb changes in demand and minimize revenue losses.
• Optimal utilization of available resources.
• Keep track of costs and margins.
• Anticipate risks and deal with supply chain disruptions.
The joint solution from SAS and Cosmo Tech is based on the SAS Intelligent Planning Suite, which runs on the SAS Viya platform and the Cosmo Tech 360 Simulation Platform. The new solution gives organizations greater flexibility by analyzing data generated by IoT devices such as RFID tags, production lines, and vehicle telematics. SAS and Cosmo Tech will initially target supply chains of manufacturing companies, consumer goods manufacturers and retailers. But simulations based on digital twins can also benefit companies in various other sectors, such as healthcare and financial services.
More time for strategic work
According to Dan Mitchell, global director of Retail & CPG at SAS, the corona crisis shows how vulnerable supply chains really are in spite of all the companies’ optimization and consolidation efforts. “Looking back over the last few years, we see that many things that we previously saw as inefficient – such as multiple distribution centers, freight forwarders, and routes – were in fact investments in adaptability,” Mitchell says. “Most consumer goods manufacturers have only a handful of business analysts and planners to compile countless forecasts. The use of intelligent automation, machine learning and digital twins enables companies to automate complex processes. That way, analysts have more time for strategic work. . ”
Learn more about the collaboration between SAS and Cosmo Tech.