Leading technology analyst firm Gartner has released its annual Hype Cycle for Supply Chain Strategy research report and included Cosmo Tech as a sample vendor in the Digital Supply Chain Twin category.
Gartner’s Hype Cycles are designed to help their clients separate hype from the real drivers of a technology’s commercial promise. These reports are intended to both reduce the risk involved in enterprise technology investment decisions and compare in-house understanding of a technology’s business value with the objectivity of experienced Gartner IT analysts.
The Hype Cycle for Supply Chain Strategy is written specifically for supply chain officers and strategic leaders. According to Gartner it offers those decision makers “a snapshot of the maturity and benefits of key technologies, competencies and frameworks to support their goals”.
A ready reference for supply chain leaders, Gartner’s Hype Cycle regularly exposes the new technologies and innovations that are expected to help drive productivity in supply chain strategy and operations in the future. The 2020 report included the Digital Supply Chain Twin with the technology defined as “a digital representation of the physical supply chain that can be used to drive understanding and make decisions across an E2E supply chain.”
While the Hype Cycle was largely focused on strategic supply chain operations, Gartner analysts saw applications for the technology beyond strategic planning. “Organizations should use a digital twin for all levels of supply chain decision making,” analyst Tim Payne argued, “from strategic through to executional.”
Gartner identifies sample vendors for all of the technologies listed in its Hype Cycles and, when it comes to Digital Supply Chain Twins, Cosmo Tech was included. The company’s innovative Enterprise Digital Twins have already proved attractive to major manufacturing and automotive industry players, and now Gartner has recognized the impact these digital twins will have on supply chains across industries.
“Our Enterprise Digital Twins have been adopted to optimize supply chains in the auto industry, to increase resilience in supply chains in the manufacturing sector, and even to ensure that post-COVID-19 supply chain re-starts are safe and that workers are equipped with the personal protective equipment they need. Our technology is now an essential part of a long-term strategy to increase efficiency, drive productivity, and realise value,” explains Cosmo Tech CTO Thomas Lacroix. “The predictive and prescriptive analytics we offer to supply chain decision makers to address their systemic challenges are game changing, and being recognized by Gartner among Digital Supply Chain Twin vendors is evidence of that.”
Lacroix pointed to Cosmo Tech client Renault adopting its supply chain Enterprise Digital Twin to first optimize the production of its engines in the face of volatile demand, and then to help it restart operations at more than 100 sites around the world after the global pandemic forced a shutdown. By relying on Cosmo Tech’s software to make optimal choices, Renault was able to augment their agility, lift their productivity, improve operational efficiency, and produce more in spite of dynamic demand curves in the post-lockdown period.
“I’ve little doubt that digital supply chain twins will have a marked and positive impact on supply chains,” said Lacroix. “Our clients continue to report that our cutting-edge modeling and simulation technology is helping them to build better, more robust, and more resilient supply chains. I’m proud that what we’re building is helping our clients lift their productivity and efficiency and also proud that Gartner has recognized the impact of our innovation, too.”
A leader in digital twins, Cosmo Tech has developed a guide to the myriad of ways that this innovative technology is changing the way decisions are made and business are transformed.
The eBook Tackling Manufacturing Challenges with Digital Twin Technology outlines the key advantages that an Enterprise Digital Twin brings to manufacturing supply chain planning, asset management strategies, and cost optimizations. It includes use cases familiar to top teams in the automotive, aerospace, and general manufacturing sectors and can be downloaded for free here.
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