Intelligent Digital Twins Go Beyond Visibility to Drive Supply Chain Resilience and Growth
ParkourSC, a leader in supply chain technology solutions, announced the expansion of its digital supply chain operations platform by delivering intelligent digital twins specifically designed for real-time supply chain operations across the extended enterprise.
The global supply chain is under more pressure than ever before. Disruptions now occur more frequently and have a higher impact than in any previous period. Events such as geopolitical instability, climate change, pandemics, labor shortages, and industrial accidents have resulted in system-wide shortages of product inputs, reduced ability to maintain production capacity, backed up ports, and extended delivery times. Continued volatility has stretched lean supply chains to their limits and reduced profitability putting emphasis on agility, resilience, and innovation. The pharmaceutical industry, for example, stands to lose an average of 24% of one year’s EBITDA every ten years due to disruptions, according to McKinsey. In contrast, manufacturers that increase resiliency to recover from shocks more quickly can reduce the EBITDA impact of disruptions by 23%1.
“Current market volatilities ratchet up the pressure on lean supply chains to remove barriers and improve resiliency,” said ParkourSC CEO Mahesh Veerina. “Our real-time supply chain operations platform enables companies to digitize their supply chains, embed intelligence, automate workflows, and optimize operations to increase revenue, reduce operating costs and improve profits. With ParkourSC, organizations can move beyond visibility in their supply chains to drive innovation, competitive advantage, and growth through new products and services.”
Meanwhile, customer demands continue to increase. They expect products customized to their specific preferences, improved service and transparency, on-time delivery, and proven product quality and compliance. For their part, manufacturers struggle to overcome the data and organizational silos that prevent them from leveraging their supply chains to deliver new products and services that can increase customer satisfaction and drive competitive advantage. The information flow across the value chain is equally important as the product flows across the value chain for all the ecosystem stakeholders.
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“Current market volatilities ratchet up the pressure on lean supply chains to remove barriers and improve resiliency”
Moving Beyond Supply Chain Visibility
ParkourSC designed its digital supply chain platform to help manufacturers address these challenges by moving beyond supply chain visibility to establish real-time digital supply chain operations. The ParkourSC platform will enable its customers to:
- Improve resilience by deploying intelligent digital twins for the end-to-end supply chain. Digital twins help customers overcome data and organizational silos by defining the attributes and relationships across all the entities in the value chain, including companies, suppliers, warehouses, logistics, distribution centers, customers, software systems, locations, sensors, and products. Then, customers automatically monitor supply chain performance by embedding low-code/no-code recipes, AI/ML models, business rules, and key performance indicators and thresholds specific to their business using low-code/no-code workbenches.
- Continuously align planning and execution by delivering ground-truth and predictive intelligence to planning applications. ParkourSC bridges the gap between planning and operations by improving the accuracy of supply, demand, and integrated business planning by surfacing the impact of any unanticipated issues in supply chain operations to improve reliability and on-time delivery.
- Foster collaboration and automation across the extended enterprise by sharing digital twins and automating workflows across the extended enterprise, including suppliers, partners, customers, and other entities. Shared digital twins help standardize and collect supporting information for business processes across entities, provide ground-truth to all stakeholders, and provide the agility to take action when delays or other excursions occur.
- Drive business innovation and growth by using the ParkourSC platform to easily adjust business models and deliver new products and services to customers. With ParkourSC, customers can bring together products, suppliers, logistics, IoT, contextual data, analytics collaboration, and other elements of the supply chain to deliver new technology-enabled offerings to customers.
“Our mission is to continuously improve the reliability and security of the pharma cold chain to ensure life-saving and life-enhancing therapies reach the patients who need them,” said Tom Weir, chief operating officer for CSafe Global. “The rapid growth of complex biologics and advanced therapies is driving the need for ever-more sophisticated cold-chain shipping solutions. We partner with ParkourSC to deliver real-time shipment monitoring and visibility across our global service network to enable our customers to confidently manage complex shipping lanes and potentially intervene if delays, damage, or excursions are discovered during transit. Access to this advanced, reliable, real-time monitoring solution has been a key driver for why customers trust CSafe for their most critical cold-chain shipping needs. Partnering with ParkourSC has been foundational to building this competitive advantage.”
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