IMTS 2024 Conference: Practical and Affordable Factory Digital Twins for SMEs

Tuesday September 10 3:15 PM CST
IMTS31 Room W193-A

About the presentation
Factory Digital Twin (FDT) technology captures the past and present of any factory's complex physics, is constantly updated with shop floor data, and predicts the future. Indeed, FDT is the most comprehensive approach to enabling shop floor decisions in a dynamic sense and also doing it "faster and better".

Digital Twins for manufacturing are particularly difficult computationally since, in general, the lead times are very long, setup times cannot be ignored, and the process times are very broadly distributed. However, due to the convergence of several technological developments, it is now possible to execute FDT for an SME factory (from ten million to a few hundred million USD revenue) on a high-end laptop in just a few minutes.

We will demonstrate a practical and affordable FDT platform - FactoryTwin - which especially targets SMEs making or assembling complex parts or assemblies.

We will also share user stories with FDT and how it helps with cross functional collaboration, continuous improvement, pro-active planning, workforce challenges, and double-digit improvements in factory KPIs like On Time Delivery, Cash Flow, and Profitability.

Meet your presenter
Vivek Saxena founded FactoryTwin after 25 years in industry with a mission to simplify factories and unlock productivity. FactoryTwin is a factory analytics software platform which has been deployed with remarkable results, and with a very intuitive interface that end users love. Data diagnostics and cleansing is included in the platform. FactoryTwin is helping manufacturers gain vast efficiencies exploiting the data their factories already have in multiple online and offline formats using predictive and prescriptive analytics. The platform won both Phase 1 and 2 of the prestigious National Science Foundation award for Small Business Innovative Research.

Vivek enjoys helping manufacturers achieve step improvements in key business metrics (e.g., on-time-delivery, profitability, cash flow).

Previously, Vivek held a variety of roles such as chief engineer, plant manager, supply chain director, and GM at Pratt & Whitney; vice president & practice leader at ICF Aviation; president & CEO at Mooney International. He holds a PhD in Applied Math from the University of Cambridge (UK).