04 - NETVIBES in Action at RENAULT - (Virtual Twin Experiences vs Digital Twin)

"04 - NETVIBES in Action at RENAULT - Virtual Twin Experiences | NETVIBES

Here is a one-minute video of Morgan ZIMMERMANN, NETVIBES CEO explaining how NETVIBES helps Renault Group in their Renaulution Virtual Twin Experience.
Discover how Renault is using data from various departments to optimize their operations and make informed decisions. This video explores how Virtual Twin Experience is helping Renault tackle challenges like raw material volatility and optimize pricing and negotiation strategies.

⏱Chapters in this video⏱

00:00 - 00:21 Renault's Journey into Virtual Twin Experience
00:22 - 00:45 Leveraging Data to Build Renault's Virtual Twin
00:46 - 01:30 Overcoming Challenges

📑Transcript from the video📑

Renault has embarked into the journey of Virtual Twin Experience quite heavily and they're really using that to drive the transformation of Renault. You know you've heard about Renaulution Virtual Twin Experience. What we are doing for Renault is we are making sure that we are leveraging all of the pieces of data that they have from costing, from procurement, from quality, from customer feedbacks, from engineering, and we are contextualizing and projecting the whole of that knowledge into the Virtual Twin Experience to orchestrate the work of the team that have to work together.

I could give many examples. I think Olivier presented their costing, but we recently extended that by working on volatility of raw materials, volatility of cost of raw material to be more specific, where we have helped Renault with Virtual Twin Experience to understand the impact of the increase of raw material on each of the vehicles they're manufacturing. This helps them to actually understand how to optimize price, how to optimize negotiations, and how to mitigate the impact of this volatile market.

So it's really about combining real-world data, which sometimes is coming from the industry itself. What's going to be the price of aluminum in two months from now? Then, contextulating that on the business of Renault to make sure they can take the right decision on their portfolio strategy, on their negotiation strategy, and on their pricing strategy.

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