Optimizing asset management performance with simulation of digital twins

Digital Twin Consortium, USA organized a seminar on optimizing asset management performance with simulation of digital twins.

Joël Serres, Asset Management & Industrial Maintenance Expert, Airbus, said a major target of 20% of totex reduction could be reached with a new asset management approach. There are major challenges of asset management. There is difficulty to align many stakeholders with contradictory constraints.

Manufacturing engineer leads industrial projects and deploys technological bricks. Capex manager forecasts and prioritizes investments with respect to budget allocation. The maintenance manager optimizes maintenance activities and resources to meet production objectives and constraints.

Production manager ensures aircraft deliveries are met on quality and time. Program manager defines production rates and steers risk and rate adherence. Financial controller cascades cost targets and controls opex and capex adherence. Finally, the operational planner limits maintenance and production downtime to address demand.

There are complex and incomplete processes, methods, and tools that prevent efficient and aligned decision-making. The current situation (pandemics, wars, etc.) makes the transition to industrial asset management even more obvious and urgent, especially when it comes to optimizing our spends, handling our risks and shaping our future industrial systems for greater performance and resilience.

The role of an asset manager is similar to that of an orchestra maestro, with a wide understanding of the industrial world. He/she ensures vertical and horizontal alignment to the finest technical act, and among all stakeholders. He/she provides comprehensive overviews and rationality in the decision-making process over the entire lifecycle of industrial assets. We need to be developing digital twin for asset management.

Cosmo Tech provided a 360-degree simulation of digital twins for asset management. It can replicate the dynamic evolution of asset aging and cascading effects. You can do unlimited simulations to automatically generate the best option.

Michel Morvan, Executive Chairman and Co-Founder, Cosmo Tech, said that we can anticipate, physical simulation, data. and ML. We can prescribe orchestration, scenario management, hybrid AI, advanced experiments, robustness analysis, and optimization.