BRIDGING THE DIGITAL AND PHYSICAL How Digital Twins Are Reshaping Retail By Tom Meehan, CFI
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igital twin technology is already revolutionizing the manufacturing sector. But its potential for retail is just as great. Some retail professionals may be unfamiliar with the term digital twin. But chances are, they’re already using some form of this technology. In today’s fast-paced business environment, digital transformation has become the driving force behind success and innovation. One of the most promising technologies to emerge in recent years is the digital twin. This concept, though initially developed for industrial applications, has significant potential in the retail sector. In this article, we will explore what a digital twin is, and how it can revolutionize the retail landscape. Essentially, a digital twin is a virtual replica of a physical object, process, or system. It is used to mimic, replicate, and predict the real-world behavior or activities of its physical counterpart. By leveraging advanced technologies such as the Internet of Things (IoT), cameras, alarm sensors, Bluetooth low energy (BLE) beacons, RFID, artificial intelligence (AI), machine learning, and data analytics, digital twins allow businesses to monitor, analyze, and optimize the performance of their assets throughout their lifecycles. This digital-physical connection enables organizations to make more informed decisions, identify problems before they escalate, and reduce overall costs. In the field of asset protection, businesses can use digital twin technology to help identify or predict deviant behavior. This is one of the most exciting fields in digital technology, and for good reason. Its application to the retail industry is just beginning to emerge.
Digital Twins and RFID: Natural Companions Retailers are familiar with radio frequency identification (RFID), which is an established tool in the supply chain and logistics sector. RFID technology has significantly enhanced inventory management, quality control, and traceability of parts or products for businesses of all types. The unprecedented visibility and control it provides have made it indispensable for retailers. RFID tags store electronic information that can be conveyed to an RFID reader via an antenna. The information can be accessed without direct contact or line-of-sight scanning, making RFID a significant improvement over barcode systems. When RFID is combined with digital twin technology, it can revolutionize the management of products and other processes. This combination is already showing great promise in the manufacturing sector. An item’s RFID data can provide real-time visibility into its journey through the manufacturing process. This data can feed into a digital twin’s system, providing a dynamic and responsive model that can adapt to real-time changes. The result is a holistic production process view, which in turn can lead to better decision-making and increased efficiency. Imagine a manufacturing assembly line with RFID tags on each part and product. These tags provide real-time data on the location, status, and condition of assets at every point along the way. That data is fed into a digital twin of the assembly line, which then simulates the entire manufacturing process. With this model, manufacturers can monitor the process in real-time, identify bottlenecks or inefficiencies, predict potential malfunctions, and optimize the assembly line’s overall performance. This seamless integration of digital twins and RFID can also enhance traceability,
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INNOVATION
DIGITAL TWINS
