PR-DT0822-1 - 2022 Digital Transformations, August

Importance of Simulation and Modern Logistics in Project Management

R. Petty, J. Rajagopalan, J. Suksi, S. Katkanaho

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Abstract:
A project is an irreversible process needing micro-planning to be successful. Modern project management calls for an advanced simulation study on a logistics perspective integrating yard management systems, automated storage and retrieval systems and Internet of Things (IoT)/Industry 4.0 to save on life cycle cost. A simulation study with special software could advance every stage of the project and production to cross-check the risks and threats during the execution of the project and process with reference to technology, interfacing aspects, resources and the time scale well before the investment. With a simulation study, the right material flowh-how concept could be configured toward enhanced productivity, quality and safety. During a simulation study, the latest modern logistics and IoT could be considered up front to decide on the benefit of automation for material handling, tracking, packing and storage including manless shipping feasibility options. A simulation study is detailed in this article with a case study at a stainless steel plant in the U.S.


Keywords: digital transformation, industry 4.0