This podcast, based on GEP’s whitepaper, “How Digital Twins Help Procurement Optimise Costs and Service Performance,” explains how continuously updated virtual models of physical systems help procurement teams to contract for outcomes rather and not just activity.
With digital twins adoption, leaders can move beyond reactive maintenance to a more predictive approach. These virtual tools provide the insights needed to identify early warning signals before expensive bills arrive. This shift enables more effective capital commitments by modelling scenarios before final decisions.
What's Inside:
- Reduce facilities maintenance costs by as much as thirty per cent.
- Cut unplanned downtime by nearly half using virtual models.
- Model scenarios to make capital decisions with greater confidence.
- Optimise your facilities strategy and drive better supplier performance today.
Listen to the podcast now.
Frequently Asked Questions
Digital twins act as updated virtual models assisting in identifying early warning signals. By making use of this data, the procurement teams can shift from reactive maintenance to predictive models. This leads to a potential cut in maintenance costs by as much as 30% or more.
Implementing digital twins can reduce almost half of the unplanned downtime. These virtual representations of physical systems allow procurement leaders to understand system performance better. Also, it helps in addressing the issues before they cause major service interruptions.
Factors like inflation and ageing infrastructure make the old break-fix model inefficient. Additionally, new ESG mandates require organizations to produce data that reactive systems cannot provide. This makes virtual modelling a necessity for modern procurement.