Tokyo, Japan - January 18, 2024
Yokogawa Electric Corporation (TOKYO: 6841) announces that it has entered into a partnership with TIM Solution and will act as a global value-added reseller for this company's 8D* digital twin platform. The addition of TIM Solution's digital twin platform will complement Yokogawa's existing digital twin portfolio, covering a broader spectrum of asset lifecycle solutions from design and engineering to operation and maintenance, thereby improving the intelligence of industrial sites. Through this agreement, Yokogawa will be able to manage implementation, integration, and support for TIM Solution's digital twin platform. The partnership will help strengthen Yokogawa's capabilities as a global digital transformation (DX) integrator while expanding the provision of TIM Solution's digital twin platform in the global market.
8D digital twin concept
While companies undergo information technology (IT) and operational technology (OT) convergence as part of their DX journey, the engineering technology element is often omitted. In reality, when considering the entire lifecycle of a plant, it also involves the integration of product and process design. For example, process engineers and IT developers, safety engineers and IT security experts, and automation engineers and mechanical engineers. Therefore, when addressing IT/OT convergence, there is always a need to make provisions for engineering technology. Through this partnership, Yokogawa aims to fulfill this need with the addition of TIM Solution's digital twin platform.
TIM Solution's digital twin platform is offered as a PaaS. Functioning as a universal digital twin platform, it can be applied in various fields to enhance manufacturing processes by integrating and simulating data from oil & gas, shipbuilding, aerospace, automotive, and other industries with respect to IT/OT and engineering technology. It is a specialized digital platform that, when coupled with Yokogawa asset management offerings such as OpreX Asset Health Insights, can provide customers with a single platform for the access and utilization of company-wide data. TIM Solution's digital twin platform can also be placed on top of Yokogawa's OT process digital twin offerings, providing an even more holistic view of asset data.
*8D digital twin: A digital twin platform that adopts an eight-dimensional approach (document, drawing, spatial, real time, cost, maintenance, sustainability, safety) to the integration of data.
Outline of TIM Solution
Headquarters: Seoul, Korea
CEO: Jeenie Kim
Business: A Korean-based company providing universal digital twins that can be applied across different industries, providing high-quality 3D visualization with minimum resources, hence providing easy and efficient usability for end users.
Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations.
Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,000+ employees in a global network of 129 companies spanning 60 countries.
For more information, visit www.yokogawa.com
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