scholarly journals Digital Twin Providing New Opportunities for Value Co-Creation through Supporting Decision-Making

2021 ◽  
Vol 11 (9) ◽  
pp. 3750
Author(s):  
Shaun West ◽  
Oliver Stoll ◽  
Jürg Meierhofer ◽  
Simon Züst
Keyword(s):  
Decision Making ◽  
Service Management ◽  
Case Study Research ◽  
Pilot Scale ◽  
Theory And Practice ◽  
Future Research ◽  
Digital Twin ◽  
Digital Twins ◽  
Research Gap ◽  
Manufacturing Environments

The application of digital twins provides value creation within the fields of operations and service management; existing research around decision-making and value co-creation is limited at this point. Prior studies have provided insights into the benefits of digital twins that combined both data and simulation approaches; however, there remains a managerial gap. The purpose of this paper is to explore this research gap using input from a multiple case study research design from both manufacturing environments and non-manufacturing environments. The authors use ten cases to explore how digital twins support value co-creation through decision-making. The authors were all involved in the development of the ten cases. Individual biases were removed by using the literature to provide the assessment dimensions and allowing a convergence of the results. Drawing on the lessons from the ten cases, this study empirically identified eight managerial issues that need to be considered when developing digital twins to support multi-stakeholder decision-making that leads to value co-creation. The application of digital twins in value co-creation and decision-making is a topic that has developed from practice and is an area where a research gap exists between theory and practice. A cross-case analysis was developed based on the literature and the ten cases (eight industrial and two pilot-scale cases) providing the empirical findings. The findings describe how firms can design, develop, and commercialize digital-twin-enabled value propositions and will initiate future research.

scholarly journals Methodology and Tools for Digital Twin Management—The FA3ST Approach

IoT ◽  
2021 ◽  
Vol 2 (4) ◽  
pp. 717-740
Author(s):  
Ljiljana Stojanovic ◽  
Thomas Usländer ◽  
Friedrich Volz ◽  
Christian Weißenbacher ◽  
Jens Müller ◽  
...  
Keyword(s):  
Decision Making ◽  
Industrial Applications ◽  
Industrie 4.0 ◽  
Conceptual Approach ◽  
Digital Twin ◽  
Digital Representations ◽  
Lifecycle Model ◽  
Digital Twins ◽  
International Data ◽  
Physical Assets

The concept of digital twins (DT) has already been discussed some decades ago. Digital representations of physical assets are key components in industrial applications as they are the basis for decision making. What is new is the conceptual approach to consider DT as well-defined software entities themselves that follow the whole lifecycle of their physical counterparts from the engineering, operation up to the discharge, and hence, have their own type description, identity, and lifecycle. This paper elaborates on this idea and argues the need for systematic DT engineering and management. After a conceptual description of DT, the paper proposes a DT lifecycle model and presents methodologies and tools for DT management, also in the context of Industrie 4.0 concepts, such as the asset administration shell (AAS), the international data spaces (IDS), and IEC standards (such as OPC UA and AML). As a tool example for the support of DT engineering and management, the Fraunhofer-advanced AAS tools for digital twins (FA3ST) are presented in more detail.

scholarly journals Varieties of decisional incapacity: Theory and practice

2013 ◽  
Vol 203 (6) ◽  
pp. 403-405 ◽  
Author(s):  
Scott Y. H. Kim
Keyword(s):  
Decision Making ◽  
Psychiatric Patients ◽  
Theory And Practice ◽  
Future Research ◽  
Decision Making Capacity ◽  
Key Issues ◽  
Decisional Incapacity

SummaryEvaluation of decision-making capacity (DMC) for treatment is challenging. Owen et al, in this issue of the Journal, compare the abilities (understanding, appreciation and reasoning) relevant to DMC in medical and psychiatric patients. Here I discuss three key issues their article raises and that are relevant to the direction of future research.

Entrepreneurial decision-making: new conceptual perspectives

2019 ◽  
Vol 58 (7) ◽  
pp. 1283-1300 ◽  
Author(s):  
Kaylee De Winnaar ◽  
Frances Scholtz
Keyword(s):  
Decision Making ◽  
Business Environment ◽  
Theory And Practice ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Perspectives ◽  
Decision Making Processes ◽  
Entrepreneurial Decision

Purpose The purpose of this paper is to call for inclusion of alternative but complementary conceptual perspectives in entrepreneurial decision-making theory and practice. Design/methodology/approach A conceptual approach, drawing on two sets of theoretical perspectives relating to decision making of entrepreneurs, is adopted. Findings The paper presents a conceptual framework of entrepreneurial decision making utilising the intersection between a metacognitive model of the entrepreneurial mindset and the recognition-primed decision-making theory. The paper argues that the convergence of these theoretical viewpoints provides a selection of decision-making processes for entrepreneurs in an uncertain business environment. Practical implications Decision-making models and tools are available to entrepreneurs; however, the relevance and applicability are restrained by the complexity and uncertainty of business environments in which entrepreneurs operate. New and more inclusive conceptual perspectives are required to improve the accuracy of decision making. Originality/value The study offers a framework that integrates two diverse theoretical dimensions of entrepreneurial decision making. The findings of this study provide direction for practice and for future research on entrepreneurial decision making. The paper intends to encourage researchers to support a new combined theoretical approach and to help practitioners better understand the reasons for entrepreneurial decision failure.

scholarly journals Digital Twin for Variation Management: A General Framework and Identification of Industrial Challenges Related to the Implementation

2020 ◽  
Vol 10 (10) ◽  
pp. 3342 ◽  
Author(s):  
Kristina Wärmefjord ◽  
Rikard Söderberg ◽  
Benjamin Schleich ◽  
Hua Wang
Keyword(s):  
Process Management ◽  
3D Models ◽  
Product Development Process ◽  
System Level ◽  
Future Research ◽  
Digital Twin ◽  
System Level Simulation ◽  
Digital Twins ◽  
Full Production ◽  
Variation Management

Digital twins have gained a lot of interest in recent years. This paper presents a survey among researchers and engineers with expertise in variation management confirming the interest of digital twins in this area. The survey shows, however, a gap between future research interest in academia and industry, identifying a larger need in industry. This indicates that there are some barriers in the industry to overcome before the benefits of a digital twin for variation management and geometry assurance can be fully capitalized on in an industrial context. To identify those barriers and challenges, an extensive interview study with engineers from eight different companies in the manufacturing sectors was accomplished. The analysis identifies industrial challenges in the areas of system-level, simulation working process, management issues, and education. One of the main challenges is to keep the 3D models fully updated, including keeping track of changes during the product development process and also feedback changes during full production to the development engineers. This is a part of what is called the digital thread, which is also addressed in this paper.

scholarly journals Introduction to a special issue entitled Perspectives on Implementing Benefit-Cost Analysis in Climate Assessment

2014 ◽  
Vol 5 (03) ◽  
pp. 333-346 ◽  
Author(s):  
Fran Sussman ◽  
Anne Grambsch ◽  
Jia Li ◽  
Christopher P. Weaver
Keyword(s):  
Climate Change ◽  
Decision Making ◽  
Cost Analysis ◽  
Climate Change Impacts ◽  
Theory And Practice ◽  
Future Research ◽  
Special Issue ◽  
Change Analysis ◽  
Benefit Cost Analysis ◽  
Benefit Cost

Abstract:Over the past half-century or more, economists have developed a robust literature on the theory and practice of benefit-cost analysis (BCA) as applied to diverse projects and policies. Recent years have seen a growing demand for practical applications of BCA to climate change policy questions. As economists seek to meet this demand, they face challenges that arise from the nature of climate change impacts, such as the long time frame and the potential for non-marginal changes, the importance of intangible effects, and the need to grapple with Knightian uncertainty. As a result of these and other characteristics of climate change, many of the fundamental tenets of BCA are coming under scrutiny and the limits of BCA’s methodological and practical boundaries are being tested. This special issue assembles a set of papers that review the growing body of literature on the economics of climate change. The papers describe the state of the literature valuing climate change impacts, both globally and at more disaggregated levels. The papers also discuss the challenges economists face in applying BCA to support climate change decision making and adaptation planning. This introduction provides background and context on the current use of BCA in climate change analysis, and sets each paper firmly in that context, identifying also areas for future research. While the challenges in conducting BCA and interpreting its results are significant, across the papers it becomes clear that economic analysis in general, and the tools and methods of BCA in particular, have a central role to play in supporting decision-making about how to respond to climate change.

scholarly journals How Digital Twin Concept Supports Internal Transport Systems?—Literature Review

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 4919
Author(s):  
Monika Kosacka-Olejnik ◽  
Mariusz Kostrzewski ◽  
Magdalena Marczewska ◽  
Bogna Mrówczyńska ◽  
Paweł Pawlewski
Keyword(s):  
Material Flow ◽  
Material Handling ◽  
Research Area ◽  
Research Trends ◽  
Transport Systems ◽  
Future Research ◽  
Major Research ◽  
Digital Twin ◽  
Digital Twins ◽  
Internal Transport

In the Industry 4.0 era, the Digital Twin has become one of the most promising enabling technologies supporting material flow. Although the literature on the Digital Twin is becoming relatively well explored, including a certain number of review papers, the context of the Digital Twins application in internal transport systems has not been investigated so far. This paper thoroughly reviews the research on the Digital Twins applied in internal transport systems concerning major research trends within this research area and identification of future research directions. It provides clarification of various definitions related to the Digital Twin concept, including misconceptions such as a digital shadow, a digital model, and a digital mirror. Additionally, the relationships between terms such as material handling, material flow, and intralogistics in the context of internal transport systems coupled with the Digital Twin are explained. This paper’s contribution to the current state of the art of the Digital Twins is three-fold: (1) recognition of the most influential and high-impact journals, papers, and researchers; (2) identification of the major research trends related to the Digital Twins applications in internal transport systems, and (3) presentation of future research agendas in investigating Digital Twins applied for internal transport systems.

Stand der Forschung zum Einsatz von Augmented Reality und Virtual Reality im stationären Einzelhandel und Implikationen für KMU

2020 ◽  
Vol 68 (3-4) ◽  
pp. 259-284
Author(s):  
Eva Lienbacher ◽  
Beate Cesinger ◽  
Christine Vallaster
Keyword(s):  
Decision Making ◽  
Virtual Reality ◽  
Augmented Reality ◽  
Future Research ◽  
Small Scale ◽  
Decision Making Process ◽  
Literature Analysis ◽  
Specific Context ◽  
Research Gap ◽  
State Of Research

Zusammenfassung Diese Literaturanalyse beschäftigt sich mit dem Stand der Forschung zum Einsatz von Augmented Reality (AR) und Virtual Reality (VR) im stationären, kleinstrukturierten Einzelhandel. Zwar steigt die Zahl der wissenschaftlichen Beiträge, die den Einsatz dieser Digitalisierungstools untersuchen, aber der spezifische Kontext eines KMU im Einzelhandel wurde bislang nicht explizit untersucht. Basierend auf der Analyse von ausgewählten 27 wissenschaftlichen Artikeln zeigt sich, dass weder AR noch VR eine one-size-fits-all-Lösung ist, sondern dass – mehr als vielleicht in größeren Unternehmen – der Nutzen aus Sicht des KMU und der Konsumenten sowie organisatorische Voraussetzungen klar im Entscheidungsprozess berücksichtigt werden müssen. Durch konkrete Überlegungen schließt dieser Beitrag eine Forschungslücke und weist auf zukünftige Forschungsfelder im Kontext KMU hin. Abstract This literature analysis presents the state of research regarding the application of augmented reality (AR) and virtual reality (VR) in stationary, small-scale retail. Although the number of scientific contributions examining the use of these digitization tools is increasing, the specific context of SMEs in retail has not yet been explicitly examined. Based on the analysis of 27 scientific articles, this paper shows that neither AR nor VR is a one-size-fits-all solution, but that – more than perhaps in large companies – organizational requirements as well as benefits for the SME and the consumer must be taken into account in the decision-making process. This contribution closes a research gap and offers recommendations for future research in the context of SMEs.

scholarly journals A Novel Embedding Model Based on a Transition System for Building Industry-Collaborative Digital Twin

2022 ◽  
Vol 12 (2) ◽  
pp. 553
Author(s):  
Minyeol Yang ◽  
Junhyung Moon ◽  
Jongpil Jeong ◽  
Seokho Sin ◽  
Jimin Kim
Keyword(s):  
Decision Making ◽  
Cycle Time ◽  
Transition System ◽  
Building Industry ◽  
Production Environment ◽  
Correct Decision ◽  
Short Term ◽  
Digital Twin ◽  
Digital Twins ◽  
Event Log

Recently, the production environment has been rapidly changing, and accordingly, correct mid term and short term decision-making for production is considered more important. Reliable indicators are required for correct decision-making, and the manufacturing cycle time plays an important role in manufacturing. A method using digital twin technology is being studied to implement accurate prediction, and an approach utilizing process discovery was recently proposed. This paper proposes a digital twin discovery framework using process transition technology. The generated digital twin will unearth its characteristics in the event log. The proposed method was applied to actual manufacturing data, and the experimental results demonstrate that the proposed method is effective at discovering digital twins.

scholarly journals Non-technical Skills in Healthcare

2020 ◽  
pp. 413-434
Author(s):  
Stavros Prineas ◽  
Kathleen Mosier ◽  
Claus Mirko ◽  
Stefano Guicciardi
Keyword(s):  
Decision Making ◽  
Social Skills ◽  
Situation Awareness ◽  
Technical Skills ◽  
Theory And Practice ◽  
Future Research ◽  
Perception Of Risk ◽  
Complex Tasks ◽  
Performance Shaping Factors ◽  
Risk Decision

AbstractNon-technical Skills (NTS) are a set of generic cognitive and social skills, exhibited by individuals and teams, that support technical skills when performing complex tasks. Typical NTS training topics include performance shaping factors, planning and preparation for complex tasks, situation awareness, perception of risk, decision-making, communication, teamwork and leadership. This chapter provides a framework for understanding these skills in theory and practice, how they interact, and how they have been applied in healthcare, as well as avenues for future research.

The Opportunities of Using Business Models in Service Management - A Review and Classification of Business Model Artefacts

2019 ◽  
Vol 3 (4) ◽  
pp. 184-194
Author(s):  
Dominik Augenstein
Keyword(s):  
Business Model ◽  
Service Management ◽  
Business Models ◽  
Support Service ◽  
Theory And Practice ◽  
Tool Support ◽  
Future Research ◽  
Comprehensive Overview ◽  
Management Tools ◽  
Model Research

Through increased globalization and fast changing customer demands companies need to adapt their service management constantly. Business model approaches can provide a suitable base to comprehend the service management of a company. However, existing knowledge about the business model artefacts and the possibilities in service management is very diffuse. With this work, we want to shed light on the state-of-the-art of business model research with a specific focus on the different possibilities for a use in service management. We perform a systematic literature review and present a comprehensive overview of different existing business model artefacts including constructs, models, methods and instantiations. This can be possibly used to support service management and for future research this field. This demands requirements of suitable tool support from theory and practice both. It furthermore strengthens the relation between business modeling and service management. Overall, this research should strengthen the awareness of using the available business model capabilities for service management in order to create powerful management tools.

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