Budget £4000
Project Business Services
Services Service, Another

Brief Business Overview:

One of the world’s leading suppliers of mission-critical engineered products for the oil, gas, nuclear, industrial and chemical markets. Covering both the manufacture and aftermarket support of its proprietary high value products and technology with global revenues of over £60 million but in severe decline due to many years miss-management, lack of strategic investment.

The Challenge

The limitations of Microsoft Excel for business planning

The business had previously used Excel as its primary modelling tool for planning. However given the extent of change required to meet accelerating demand, the management team felt that Excel could not help them deliver and communicate an accurate, trusted growth plan. The organisation needed the foresight to understand how the business would look in 5-10 years, what future opportunities there might be, and how their operations would evolve over that period. Most importantly they needed to understand the timing of key asset investments. Complex resource and process variables all needed to be factored in, including new equipment, people, sub-assembly processes, cranes, forklifts and back office policies and workflows.

The Solution

Digital Twinning as a form of business improvement.

Having concluded that Excel would not be a suitable business tool a predictive simulation digital twin was used to create a virtual, dynamic factory able to execute detailed schedule-based planning in a rapidly deployable and user-friendly environment. Predictive digital twinning simulation through the use of simulation software is a hugely powerful tool in that it can run a year’s simulation in seconds, facilitating a detailed picture of exactly what business processes and resources were required to deliver against future demand.

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The Results

Digital Twining as a form of business improvement – President’s Medal Winner 2017

The President’s Medal is awarded for the best practical application of OR submitted to the competition (a wide definition of OR is used). Entries are welcomed from both industry based OR workers and consultants as well as from academics. One of the main qualifications for entry is that the work has been implemented before submission. Criteria for judging include:

  • The level of demonstrable benefit: Revenue increased from £16m to £32m in 3 years
  • The intellectual and novel content of the solution: Smart Factory of the year 2016
  • The likely longevity of the solution: On-time-delivery increased from 0% to 100%
  • The excellence of the OR process Queens award for export 2016
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