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Digitization, Digitalization, and the Digital Transformation of the Factory Floor

As the adoption rate of digital transformation within the manufacturing industry increases, many still struggle with differentiating between digitization and digitalization. Although both terms sound similar, that’s where the similarities end. Many who use digitization and digitalization interchangeably end up confusing the technological partners they intend to work with. Thus, to eliminate the confusion associated …

5 Things to Look Out for in the Right Digital Twin Solution for Manufacturing

Slowing productivity has always been the harbinger for the application of new ideas to deliver growth. Providing enough products to cater to an expanding population was crucial to establishing the first industrial revolution and centuries later humanity found itself in the same situation. Productivity growth across the industrial sector fell from 2.9% from 1995 – …

Digital Transformation of the Healthcare Industry: What’s next in 2021?

When it comes to digital transformation, the healthcare industry can be said to have taken to digitalization as a duck takes to water. Today, the healthcare industry comes third in the roll call of industrial sectors with the highest digitalization adoption rate. The 2020 statistics paint a picture of the symbiotic relationship between digital transformation …

From Disorder to Insight: The Road to a Digitally Transformed CPG Industry

Imagine a manufacturing enterprise churning out billions in revenue from selling approximately 5,000 different consumer packaged products relying on pen and paper analysis to make complex decisions? Sounds alarming right? This scenario highlights, to an extent, the current situation in the consumer packaged goods industry. According to a survey, although 25% of enterprises in the …

Revisited: The Evolution of the Industrial Ages: Industry 1.0 to 4.0

Through the ages, human progress has been closely intertwined with the ability to develop innovative solutions to producing the items we consume and utilize. The stone and metal age saw our ancestors produce goods by hand and through the help of domesticated animals but by the 18th century, things were to change dramatically for the …

Enhancing Innovation and Agility with Digital Twin Technology in the Manufacturing Industry

Gartner’s 2019 “Application Strategies & Solutions Summit” highlighted the challenges manufacturers face in a world that continues to demand more accountability from the manufacturing industry. The discussed challenges included the need to increase revenue growth, enable greater agility with existing manufacturing processes and resources, and getting more value from plant floor data. During the conference, …

Why More Manufacturers are betting on Simulation Software in 2020

In the past decade, the manufacturing industry struggled to increase its production rate even with the implementation of lean manufacturing concepts within shop floors. A major cause of the stagnant productivity levels manufacturers’ encountered was strategy planning and its implementation. In many cases, the inability to accurately assess how strategic changes affect production led to …

Predictive Modeling In Healthcare and The Role of Digitization

The digital transformation of the healthcare industry is moving at an accelerated pace as healthcare facilities continue to reap its benefits in operational management, epidemiology, and personal medicine. And one subset of Digitization that is proving to be extremely useful is the integration of predictive modeling and analytics in healthcare. Predictive modeling refers to the …

Speaker Announcements for Simio Sync Digital Transformation

Simio Sync 2020 is a meeting of like-minded professionals within the digital transformation space and as the event date gets closer, periodic announcements introducing speakers at the event will be provided. Today, we are pleased to announce the addition of expert speakers to the event line-up. These speakers bring decades of experience in diverse industries …

What are the Differences Between Simulation Software: Discrete, Continuous, and Agent-Based?

Simulation has become an integral part of many industries due to its capacity to provide insight into complex operations and processes. This post deals with the different types of simulation software applications, their capabilities, and application. Here, discrete event, agent-based, and continuous simulation will be defined and the differences across all options highlighted to help …

Integrating Digital Transformation to Enhance Overall Equipment and Facility Efficiency

The digital transformation of traditional business process and the assets that run them have become one of the raves of the moment. A Forbes-backed research highlights just how popular the topic of digital transformation and the tools needed to accomplish it has become. Statistics like the fact that 55% of business intended to adopt digitization …

Top Trends in Simulation and Digital Twins Technology for 2020

Digital Twins refers to the digital representations of people, processes, and things. It is used to analyze operations and receive insight into complex processes. As 2019 comes to an end, the need to define digital twin technology still exists and hopefully by this time next year, its growth and popularity will make this need obsolete… …

Evolution of Discrete Event Simulation Software

Today, discrete event simulation (DES) software and the benefits it provides are currently being used across a majority of industries to simplify business operations, make predictions, and gain insight into complex processes. But before modern simulation software such as Simio could be used to create shiny models and execute real-time simulations, there were earlier technologies …

Simio Showcases the Digital Twin at INFORMS Annual Meeting 2019 – A Recap

The INFORMS Annual Meeting for 2019 has come and gone with multiple keynotes shared, workshop activities, and hundreds of excellent companies sharing their experiences and solutions from brightly colored booths. Once again, Simio was at the thick of things evangelizing the benefits of simulation and Digital Twin technology to the world. As with all annual …

Integrating Simulation and Digital Twin Technology in the Hospitality Industry

The numbers are in and they do look good for the hospitality industry which consists of hotels, restaurants, and other hospitality-related services. According to Forbes, profitability in the hospitality industry is finally on the increase after the slump of previous years. The report further stated that the net profit margins for full-service restaurants grew by …

Industry 4.0 Revolution: Understanding the Digital Twin and Its Benefits

The world is moving toward an era of more efficient business operations driving by automation. This was one of the key messages of Mitsubishi Hitachi Power Systems CEO, Paul Browning, at the just concluded 2019 CERAWeek held in Houston. Paul Browning, who was the keynote speaker on the ‘digital transformation agenda’, spoke about Mitsubishi’s use …

Simio Partner Finalist in Franz Edelman Award

The prestigious Franz Edelman Award for Achievement in Operations Research and the Management Sciences was presented at the Edelman Gala on April 16th, 2018 in Baltimore, Maryland. The Franz Edelman competition honors distinction in the practice of Operations Research and Analytics, by both individuals and companies, with emphasis on the beneficial impact of their achievements. …