On 3 and 4 December, the Cosmo Tech team was at Supply Chain Event in Paris.
This trade show, however, was a bit different from the others.
During the event, Executive Chairman and Co-founder Michel Morvan gave a presentation alongside Renault’s Supply Chain Expert Aimé-Frédéric Rosenzweig on their experience using Cosmo Tech’s Supply Chain solution. The presentation, titled Enterprise Digital Twins & Simulation: The Key Technologies of the Industry of the Future, focused on Cosmo Tech’s Supply Chain solution and its application to optimize production planning and control. Developed by Cosmo Tech, this Enterprise Digital Twin solution has made it possible for Renault to map and optimize flows on production lines by providing a virtual replica of the company’s flows, business processes, production infrastructure and human and financial resources.
“The automotive sector is currently undergoing a major transformation. The demand for electric vehicles varies faster than expected and we had to optimize our supply and production flows,” said Rosenzweig. “The problem was: how to produce more engine with the same capabilities in a rapidly changing market?”
Thanks to Cosmo Tech Supply Chain, Renault was able to visualize the digital twin of their organization including its production lines, highlighting key positions and the interconnections between them. With a few clicks, the entire dynamic of the production chain becomes visible, allowing them to understand any gaps in their operational strategy.
But while this data is pertinent to identifying bottlenecks, you need to go further with this information, says Morvan.
“Industrial businesses collect a lot of information that we can organize to offer them a representation of their production process,” he says. “But analyzing historical data to know the state of a system is not enough, they must be able to analyze the future states.”
And therein lies the value of Cosmo Tech’s Enterprise Digital Twins.
Cosmo Tech’s Enterprise Digital Twins can generate two types of scenarios: predictive and prescriptive. The predictive, or the “what-if” scenarios, anticipate and control the consequences of certain decisions and identify the strengths and weaknesses of the operational strategy. The prescriptive, or “how to”, establish an action plan and obtain the best optimization levers, providing decision makers with the optimal decision, and allowing them to justify that decision with facts.
Rosenzweig has been more than pleased with the outcome.
“Cosmo Tech allowed us to identify real bottlenecks in our flows and correct the shot. The machine allows a real iterative game, which also does not deprive the operational teams of their role. The machine shows where the problems are and the teams think about the solutions they can quickly simulate,” he explains.
Before and after the presentation, visitors could come to Cosmo Tech’s booth and watch demos of the solution, ask questions, and learn more about Enterprise Digital Twins. Aside from Supply Chain, Cosmo Tech also provides Asset and Plan solutions for manufacturing, energy and utilities, and more.
Supply Chain Event is the annual digital supply chain event, bringing together more than 100 exhibitors and solution providers, with 40 conferences and workshops.
Read more about Renault and their experience using Cosmo Tech Supply Chain here [in French]. Or schedule a call with one of Cosmo Tech’s experts to discuss the Supply Chain solution in-depth.