Digital Twin As A Cost Reduction Method

TL;DR

This paper explores how digital twin technology, integrated with cyber-physical systems and AI, can serve as an effective method for reducing costs across various industries, especially from a cost accounting perspective.

Contribution

It provides a comprehensive overview of digital twin development and evaluates its potential as a cost reduction tool, filling gaps in Turkish literature and cost accounting applications.

Findings

Digital twin enhances decision-making efficiency.

Implementation leads to significant cost savings.

The study highlights the importance of digital twin in cost management.

Abstract

Many fields have been affected by the introduction of concepts such as sensors, industry 4.0, internet of things, machine learning and artificial intelligence in recent years. As a result of the interaction of cyber physical systems with these concepts, digital twin model has emerged. The concept of digital twin has been used in many areas with its emergence. The use of this model has made significant gains, especially in decision making processes. The gains in decision making processes contribute to every field and cause changes in terms of cost. In this study, the historical development of the concept of digital twin has been mentioned and general information about the usage areas of digital twin has been given. In the light of this information, the cost effect of the digital twin model, therefore its appearance from the cost accounting window and its use as a cost reduction method were evaluated. This study was carried out in order to shed light on the studies with the insufficient resources in the Turkish literature and the cost accounting perspective.