The Digital Transformation of the Product Management Process: Conception of Digital Twin Impacts for the Different Stages
In this paper the potential impact of digital transformation in general and digital twin applications on the Product Management Process (PMP) in particular will be investigated. The object is to figure out the potential benefits of digital twin utilization. Methodologically, a conceptual and analytical approach are applied in using statistical data, surveys, latest literature and logical conclusions. Thus, the approach is twofold: from the conceptual point of view the different types of digital twins are introduced; from the analytical point of view different applications in different stages of the PMP will be subject to investigation. So, this paper can be categorized as conceptual paper based on an extensive literature research. The findings of research revealed that the digital transformation can offer various benefits for the PMP. It can be summarized that in all phases of the PMP potential benefits can be identified. The most important is saving time and money, avoiding waste of physical resources and simultaneously raising quality, reliability and competitive advantage. Regarding the originality value it can be stated that this is the first comprehensive examination of the entire PMP with regard to digital transformation in order to identify sources of potential benefits.