Despite the challenges higher fuel costs bring to industries, few companies have made significant efforts to address the issue. Fortunately, there are ways to mitigate the worst effects of the cost burden.
China’s announcement of military drills around Taiwan as U.S. House Speaker Nancy Pelosi visits the island is already having ripple effects across global supply chains, prompting detours and causing delays of energy shipments.
Water levels on the Rhine River are set to fall perilously close to the point at which it would effectively close, putting the trade of huge quantities of goods at risk as the continent seeks to stave off an economic crisis.
While for some companies the concept of digital twins may be new, others in the manufacturing space have been using them for years now, proving not just their effectiveness, but also their ability to drive innovation in an increasingly competitive economy.