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Digital Twins as an Integral Part of Manufacturing Digital Transformation

In: Leading and Managing in the Digital Era

Author

Listed:
  • Timoleon Farmakis

    (Athens University of Economics and Business (AUEB))

  • Stavros Lounis

    (Athens University of Economics and Business (AUEB))

  • Ioannis Mourtos

    (Athens University of Economics and Business (AUEB))

  • Georgios Doukidis

    (Athens University of Economics and Business (AUEB))

Abstract

Digital Twins (DTs) are among the emerging and enabling technologies alongside Artificial Intelligence (AI), Internet of Things (IoT) and Optimisation that will shape the future of manufacturing in the era of Industry 4.0 and beyond. This technology lets manufacturers digitally simulate, predict, and control physical assets, offering valuable information based on real-time data. DTs also incorporate intelligent capabilities by utilising additional services and tools, affecting production processes toward new business strategies for developing and maintaining a competitive technological advantage. To this end, DTs can drive digital transformation, enabling real-time monitoring, data analysis, and process optimisation. Nevertheless, although DTs have the potential to accelerate digital transformation in manufacturing, this relationship has not been adequately studied. This research utilises a practitioner-oriented framework for Digital Transformation (DX) to examine and map the potential benefits and impact of DTs in the digital transformation efforts of manufacturing companies by analysing four real-life production cases in different manufacturing industries and identifying the similarities and differences among them (in terms of DT purpose and deployment).

Suggested Citation

  • Timoleon Farmakis & Stavros Lounis & Ioannis Mourtos & Georgios Doukidis, 2024. "Digital Twins as an Integral Part of Manufacturing Digital Transformation," Lecture Notes in Information Systems and Organization, in: Gregory Prastacos & Nancy Pouloudi (ed.), Leading and Managing in the Digital Era, pages 173-187, Springer.
    • Handle: RePEc:spr:lnichp:978-3-031-65782-5_12
    DOI: 10.1007/978-3-031-65782-5_12
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