life cycle

In the connected world, digital twins open up completely new possibilities: they virtually replicate physical systems, processes, or products. However, key challenges remain, including the collection of current product data. This issue of Industry 4.0 Science covers a wide range of topics, from the basic concept of the digital twin to its benefits in procurement and its use in supply chain management.

The digitalization is not only the basis of new business models, smart products and innovative services but also a source of uncertainty. This uncertainty about the economic benefits presents a major implementation barrier. To digitize the german production site until 2025 a reduction of risks is mandatory. The developed life cycle model of Industry 4.0 supply chain networks supports a transparent evaluation of risks. Findings show that there exists a gap between perceived and real risks. For a successful transformation, companies need to overcome those barriers.