Published Online:December 2024
Product Name:The IUP Journal of Supply Chain Management
Product Type:Article
Product Code:IJSCM021224
Author Name:Sanjay Vijay Mhaskey
Availability:YES
Subject/Domain:Management
Download Format:PDF
Pages:29-42
The increasingly intricate and globalized landscape of supply chains subjects them to various risks, including supplier interruptions and environmental calamities. Digital Twin technology presents a robust solution for realtime risk management by generating virtual models of physical supply chain systems. These digital replicas facilitate the simulation, monitoring, and forecasting of potential disruptions, empowering organizations to adopt proactive risk mitigation measures. This paper delves into the applications of Digital Twins in enhancing realtime risk management within supply chains, emphasizing their architectural framework, associated benefits, challenges faced during implementation, and prospects for leveraging this technology to foster resilient supply chain management.
As global supply chains become increasingly complex and uncertain, largely due to globalization and evolving economic policies—effective Supply Chain Risk Management (SCRM) has become essential for protecting against financial losses and operational setbacks. By proactively managing risks, organizations can enhance cost efficiency and...