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Digital Twin in Manufacturing: Helping Businesses in Growing Their Revenue

Bhagyashri Kambale | April 01, 2022 | 240 views
DIGITAL TWIN IN MANUFACTURING
Digital twin technology in the manufacturing industry is playing a vital role in evaluating current and future production line conditions to increase OEE, productivity, and business profitability. It has become the most critical component of industry 4.0 because it collects precise data about your manufacturing process and uses that data to help you make wiser decisions.

In other words, manufacturers can utilize digital twins to check and assess physical assets, processes, and systems in a virtual environment.

In this article, we will discuss some of the major applications of digital twin technology in the manufacturing industry. Additionally, we also have a look at how this technology helps businesses increase their ROI. 


Digital Twin Technology Applications


Product Development

Product development is a long and intricate process. For example, it might take up to six years to develop and launch a new automobile model. The shift from the previous model to the new model must be seamless. A minor error during this process might have a detrimental effect on the brand's value and revenue. A digital twin software enables the integration of data between previous-generation models and the new concept's digital representations. Additionally, twinning facilitates communication between product designers, end users, and other stakeholders. When it comes to product testing, having digital twin platforms eliminates the need to wait for performance data from car trials to determine the product's performance and quality.


Design Customization

As consumers become more intelligent, and demand personalized items in a timely manner, the manufacturing industry will become increasingly competitive. According to an Industry Week Special Research Report on the future of manufacturing, industrial enterprises of all sizes place a premium on process improvement and customer relationship strengthening, while small businesses focus on addressing customer demand for product customization. To assist in the customization process, manufacturers use Twin Design Customization, which enables the virtual design and re-design of goods prior to generating a physical product that fully meets consumer specifications.


Shop Floor Performance Improvement

The shop-floor digital twin concept helps businesses to be proactive as the system is capable of identifying anomalous situations. This demands attention and process improvements prior to them escalating into a real problem or standstill.


Predictive Maintenance

Individual digital twin examples for equipment or manufacturing processes can detect deviations that indicate the need for preventative repairs or maintenance prior to the occurrence of a serious problem. Additionally, they can aid in the optimization of load levels, tool calibration, and cycle times.


Can Digital Twin Boost Business Revenue?

According to a recent study by Juniper Research, revenue from digital twins (a virtual representation of a connected physical product, process, or service throughout its lifecycle) will reach $13 billion by 2023. This is an increase from an estimated $9.8 billion in 2019, representing an average annual growth rate of 35%. The study also discovered that increased deployments of advanced sensors for data collection and technological advancements such as machine learning, artificial intelligence, and high-performance computing are enhancing the benefits of digital twins. 

So, how does a digital twin help your company's ROI?
The digital twin improves transformation efficiency by providing platforms and technologies that simulate the impact of process changes in your supply chain – in a safe, secure, and digitally isolated environment – using real-time scenario modeling generated parallel with live supply chain operations. More than a visualization, a digital twin can help accelerate innovation, foster consensus, and save time and money by iteratively modeling changes, testing how components or systems operate, and inexpensively troubleshooting malfunctions in a virtual world.


Final Words

The digital twin platforms benefit manufacturing organizations across all verticals, including supply chain management, manufacturing operations, and logistics. Thus, technology is accelerating and enhancing the manufacturing industry to obtain more positive results and, in turn, increase its efficiency and, as a result, its return on investment. The digital twin will gain popularity as businesses learn to use it to their advantage. According to a 2020 analysis conducted by Research and Markets, up to 89% of all IoT platforms will incorporate digital twins by 2025. Thus, the future of digital twins is bright, and we may witness increased use of digital twins in the next few years.       


FAQ


How digital twin help businesses?

Digital twins can help businesses make better data-driven decisions. Businesses utilize digital twins to understand the state of physical assets, respond to changes, optimize operations, and add value to systems.


How does digital twin save money?

A digital twin can save time and money by iteratively modeling modifications, testing component or system functionality, and resolving faults in virtual reality.


What are the essential components of digital twin technology?

The concept of the digital twin is composed of three unique components: the physical product, the digital or virtual product, and the linkages between the two.

Spotlight

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Philips Lighting (Euronext Amsterdam ticker: LIGHT) is a global leader in lighting products, systems and services. Our understanding of how lighting positively affects people coupled with our deep technological know-how enable us to deliver digital lighting innovations that unlock new business value, deliver rich user experiences and help to improve lives. Serving professional and consumer markets, we sell more energy efficient LED lighting than any other company. We lead the industry in connected lighting systems and services, leveraging the Internet of Things to take light beyond illumination and transform homes, buildings and urban spaces. In 2015, we had sales of EUR 7.4 billion and currently we have approximately 36,000 employees in over 70 countries.

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EY and GE Digital announce alliance to help organizations improve productivity through data-driven manufacturing

GE Digital | August 05, 2022

Ernst & Young LLP (EY US) and GE Digital today announce an alliance to help organizations transform their manufacturing operations. The alliance combines the proven sector excellence and technology consulting services of EY US with the more than 100 years of manufacturing experience and rich digital technology of GE. With the rapidly growing demand for modernized manufacturing systems, companies are seeking to gain a competitive advantage by expediting their digital transformation journey. As critical key performance indicators (KPIs) for the industry include the need for operational efficiency, quality management improvement, loss reduction and energy efficiency, the EY−GE Digital Alliance will provide solutions and guidance on ways to increase productivity while lowering costs. GE Digital is an industry leader in developing software for manufacturing. The business helps foster deeper integration between the enterprise resource planning layer of an organization's technology landscape with its equipment on the shop floor. GE Digital's software tools can be fit to meet the various challenges accompanying the growing manufacturing system market, including improving quality, uptime and operations performance. The manufacturing technology service of EY US, which has been growing over the last 20 years, has proven experience implementing GE Digital software tools for more than 40 different clients spanning various industrial sectors. Through this alliance, manufacturers can also leverage support from EY US teams to implement and integrate GE Digital software to develop more data-driven manufacturing operations. "I am excited to see EY US and GE Digital joining forces to help manufacturers achieve their business outcomes building a fit-for-purpose enterprise manufacturing technology landscape. The EY−GE Digital Alliance will harness the combined power of technology, services and solutions, industry insights, system integration and consulting experience of the two organizations to optimize the value chain for companies throughout the industry." -Scott Dixon, Digital Manufacturing Leader, Ernst & Young LLP. Richard Kenedi, GE Digital General Manager, Manufacturing and Digital Plant, says Software is mission-critical to accelerating transformation in industry today. The alliance brings together leaders in software solutions and technology services to help industrial companies solve their toughest challenges. Software supports corporate initiatives including continuous improvement, compliance, sustainability and global competitiveness. Companies want those solutions to be working quickly and efficiently so they can see fast time to value. Working with EY US creates that synergy needed to pursue business opportunities. About EY: EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. About GE Digital: GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital's product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works.

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ADDITIVE MANUFACTURING

Amnovis Selects 3D Systems’ Dual Laser Direct Metal Printing Solution to Advance High-Reliability Applications

3D Systems | October 06, 2022

3D Systems (NYSE:DDD) announced that Amnovis, an additive manufacturing production and engineering company based in Aarschot, Belgium, has incorporated 3D Systems’ DMP Flex 350 Dual into its contract manufacturing workflow. This next-generation technology includes two lasers, which enables Amnovis to produce high-quality, highly reliable end-use parts for a variety of industrial and medical device applications. As a result of employing the DMP Flex 350 Dual solution, Amnovis is realizing enhanced productivity – at least 50% more as compared to the single laser DMP Flex 350 – and lower costs. Amnovis’ founders were among the first to employ laser powder bed fusion (LPBF) technology to additively manufacture Titanium medical devices such as orthopedic and spinal implants. Incorporating the DMP Flex 350 Dual printer into its manufacturing workflow is allowing Amnovis to expand its potential for stock and patient-specific medical device innovation. This unique innovation ecosystem is also enabling Amnovis to introduce product and process enhancements that can also be utilized for highly regulated industrial applications including aerospace and high tech. The DMP Flex 350 Dual is the most recent addition to 3D Systems’ Direct Metal Printing (DMP) portfolio. This dual-laser configuration maintains the benefits of the single-laser configuration including flexible application use and quick-swap build modules, and a central server to manage print jobs, materials, settings, and maintenance for 24/7 productivity. Additionally, the company’s unique vacuum chamber significantly reduces argon gas consumption while delivering best-in-class oxygen purity (<30 ppm). The printer also includes Oqton’s 3DXpert — the all-in-one software for industrial additive manufacturing that enables efficient preparation, optimization, and 3D printing of high-quality parts by streamlining the workflow from design to printing. The DMP Flex 350 Dual is designed to help accelerate innovation for a variety of applications including medical devices, aerospace, turbomachinery, semiconductors, and automotive & motorsports. “For us, innovation benefits from material and process enhancements, as well as the ability to increase productivity, We’ve experienced a tremendous leap in 3D printing efficiency by integrating 3D Systems’ DMP Flex 350 Dual into our workflow. By scaling our high-end parts manufacturing for quality-critical applications in medical, high tech, and other industries, we ensure faster delivery at lower cost, while maintaining our high-quality standards." -Ruben Wauthle, CEO and co-founder, Amnovis. In order for our service bureau customers to gain a competitive advantage, they need to differentiate the services they provide while becoming increasingly responsive to customer requirements, said Scott Anderson, vice president, segment leader, 3D Systems. Our collaboration with Amnovis is yet another example of how we can apply our application development expertise and a broad range of integrated additive manufacturing solutions to help maximize productivity, reliability, uptime, and yield. By integrating the DMP Flex 350 Dual into its solution portfolio, Amnovis is delivering high-quality parts to their customers while realizing exceptional total cost of ownership. About 3D Systems: More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. About Amnovis: Amnovis, based in Aarschot, Belgium, is a manufacturing and engineering company that uses innovative additive manufacturing (AM) technologies and materials for high-end applications such as medical devices. As an ISO 13485 certified contract manufacturer, Amnovis offers best-in-class AM technologies and expertise and paves the way for emerging AM technologies and materials. Digital process automation provides the traceability and repeatability to flexibly scale up manufacturing of products that comply with customer and regulatory requirements.

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