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January 9, 2020

LLamasoft talks creating a digital twin to simulate events and predict outcomes

Dr. Madhav Durbha, group vice president of industry strategy at LLamasoft, discussed using technology and understanding patterns to tackle deficiencies in supply chain management with FreightWaves, “Traditionally, order forecasts were done by looking at a historical stream of orders and using regression analysis to predict how the future looks like. Now we are seeing an increasing interest in bringing additional data elements to improve the accuracy of that prediction.”

“You need a system of reference from where you start connecting these dots and digital twins will start to emerge. Using that, you’ll be able to visualize information and be able to spot problems better,” said Durbha. “However, digital twins don’t show up overnight as you need to build the discipline organically.”

“I see these inefficiencies to create tremendous opportunities for supply chain professionals, as there are several applications for automation and advanced analytics,” said Durbha. “From an organizational perspective, I think companies need to pay close attention to the idea of digital twins and leverage that to improve their operations.”
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