What to expect?
The way we think about supply chains is reshaped by digital transformation and industry 4.0. Rethink:TMRW opens up new perspectives on how we plan, manage and redefine end-to-end integration models in value chains for greater efficiency, flexibility, resiliency and safety.
Just as the Digital Thread links the physical and digital worlds in manufacturing, the Rethink:TMRW summit connects major themes from initial design conception, through the production, supply, distribution and experience of products. This event incorporates thrilling keynotes, informative references and panel discussions with peers and experts from different industries will share their unique stories and offer valuable insights. Rethink:TMRW has networking at its core with opportunities for casual conversations with some of the largest enterprises and global experts for digital transformation.
We are already working on the event agenda and will keep you posted on the speaker lineup!
Product Lifecycle Management for High Complexity
In a highly competitive global marketplace, manufacturers and supply chain stakeholders need to continuously innovate their approach to managing the staggering complexities of product and process development. The management of the entire lifespan of a product within a connected digital ecosystem is becoming a critical aspect for companies striving to maximize the value of digital transformation.
Globalized Supply Chains
Increasing globalization of product manufacturing and sales is the norm in our business. Especially in the EU, production in one country for export to multiple countries with different labeling, language and packaging requirements is a standard business need. In addition to documenting quality and product data in the production phase, businesses need the ability to check that all requirements are met for every destination market.
Highly Complex Products
Products are becoming increasingly complex, connected and electronic. Mass customization is also on the rise. Automating product design and configuration is critical to keep manufacturing processes efficient and minimize time-to-market while keeping requirements for inputs met. For example, recycled material requirements in battery production are a factor that adds complexity to the production of electric vehicles.
Smart & Connected Digital Manufacturing Processes
With a Digital Thread foundation, companies can accelerate process digitalization, ensure business continuity and drive innovation. Industry 4.0 technologies enabling this transformation include cloud computing, edge computing, IoT and industrial big data management. A closed-loop manufacturing approach is key to building intelligent factories and supply chains resilient to inflationary pressures and disruptions.
Increasing Industry Regulations
Increasing industry regulations require quality data collection and documentation for products through the product lifecycle, from initial conception until the product’s end use. Quality management relating to these regulations using paper or manual processes is no longer sustainable, especially in highly-regulated industries such as pharmaceuticals and aerospace.
High Material Costs
With the cost of raw materials on the rise, an increasingly unpredictable and complex global marketplace and growing regulatory compliance concerns, manufacturers who want to succeed need to cut waste, ensure product traceability and optimize processes, all while still increasing throughput. This can only be achieved with a well-defined methodology for manufacturing operations and supply chain management from start to finish.
Resilient Digital Supply Chains with Full Visibility
Intelligent enterprises are building a digital connection across their supply chain to improve business performance, customer experience and process efficiencies. Bringing together different digital processes for data management with the physical actions and checkpoints that go into product production and distribution is critical for efficient production and logistics delivered at the highest standard.
For consumers, product experience is an important part of brand perception that can be influenced by the business approach to operations. With the rise of counterfeit products, product integrity is critical to preserving brand perception and reputation. The ability to verify product authenticity down to the batch or item level enables distributors and sellers to know they have the right products and gives the manufacturer the ability to manage recalls.
Advancement in technology for business is blurring the lines between the digital and physical worlds. This ever-changing landscape provides opportunities for new cognitive, economic and social paradigms, giving us better and faster decision-making capabilities. Business is transformed through robust IT infrastructure, full data security and advanced skills in domain and technology processes, coupled with the knowledge to implement and design this infrastructure.
Supply Chain Visibility
Checking Key Performance Indicators (KPIs) across supply chain and manufacturing processes is a task many logistics professionals do daily. To improve performance, considering the level of visibility and the associated data quality in each step can help uncover previously missed efficiencies in existing processes. Managing data with a single source of truth allows businesses to ensure end-to-end product traceability from the factory floor through distribution to consumers.
Traceability risks such as counterfeiting, quality damage, recalls and unexpected disruptions cost businesses time and money. Enterprises can reduce the risk of disruption by using enabling Track & Trace technologies to create a high level of collaboration and supply chain visibility internally as well as with stakeholders. This digital approach helps connect stakeholders from origin to consumer and improve remote access to essential information needed for agile decision-making.
Simulation & Data Science for Smart Decision-Making
Once systems are connected to the Digital Thread, the refinement and management of this digital infrastructure to drive continuous improvement is a major determining factor for success. Advanced simulation and AI technologies enable enterprises to not only study and validate the behavior of their processes and systems in a risk-free environment, but to make the right decisions for their business every time.
Digital Twins are increasing in prevalence across sectors due to greater experimentation possibilities in complex structures and the ability to perform outcome analysis with no consequences. Simulation with the Digital Twin can test for potential machine failures, identify bottlenecks and enable planning for future capacity before transferring positive results to the physical world for implementation.
Digital Twins & Simulation
Digital transformation is a journey. When business needs are met by frontier technologies, - evolution, innovation and transformation arise. Technology and business are coming together, now more than ever, to transform at every level the way we work and live. Where they meet, new digital ecosystems are created, shaped by new core values that push industry and society forward.
To ensure quality measurements of system performance, criteria for data management must be defined in relation to each enterprise’s processes. Proper data management ensures regulatory compliance, enables faster reporting and allows new scenarios to be simulated quickly if the right structuring criteria are in place.
Data Quality Management
In a global economy designed to minimize friction when it comes purchase decisions, it is critical that companies know the needs of their target customers. Recognizing these needs beyond the point of use ensures customer satisfaction, increasing loyalty and delivering a truly unique selling proposition if properly executed.
Regulations, Sustainability & Corporate Responsibility
Enterprises are under increasing pressure from regulatory bodies, shareholders and end consumers to not only innovate and deliver quality products quickly, but to execute these demands in an economically, socially and environmentally responsible way at the same time. Thanks to advancements in technologies to trace production and supply chain processes down to the item level, leadership in this area is finally within reach.
Governments worldwide continue to enact legislation to protect their constituents and to reduce negative economic and health implications. Industry stakeholders must comply with local rules in countries where they do business. Some of these regulations can be complex and are rarely standardized. For government and compliance challenges, traceability technologies help digitize regulated processes for streamlined reporting without disrupting company operations or the supply of goods.
According to the World Bank's Carbon Pricing Dashboard, there is a 5.6x faster growth rate for sustainable vs. non-sustainable consumer packaged goods. This is driven in part by the increased consumer demand for responsibly-sourced products that reduce environmental impact and social inequity. Holistic product lifecycle traceability creates embedded sustainability as a by-product, also helping supply chains adapt to changes in resource availability, regulations and market needs at the same time.