logo
Basing decisions on simulation data is good for business

Basing decisions on simulation data is good for business

Independent2 days ago
COMSOL is a Business Reporter client
Simulation apps are changing the game in business management, putting the power of predictive modelling at decision-makers' fingertips.
Success in today's marketplace comes down to developing innovative products and processes that are reliable and launch at the right time. To accelerate development efforts in R&D, engineers turn to computer modelling and simulation.
The world is ruled by laws of physics and mathematical equations, so with the data generated from computational models, engineers can get accurate previews of real-world outcomes before committing to a project plan or design. It makes a lot of sense for R&D departments to lean on physics, chemistry and maths to make decisions, but managers and stakeholders outside this realm have a lot to gain from the data as well.
Multiphysics simulation adds realism to any scenario
The benefits of performance previews transcend industries and product offerings. Working at a simulation software company, I have had a front-row seat to the many ways modelling and simulation have enabled users to speed up innovation and reduce overall costs. For example, there was the loudspeaker engineer who talked about turning an idea in his head into a viable product that would both perform well and look good, and he credited simulation with turbocharging the design iteration process.
Simulation data is only as useful as it is realistic, though, and sometimes the spec changes at a rapid pace. The way simulation has largely been used in R&D to account for this real-world complexity requires training on how to use the software of choice. Today, however, engineers are putting simulation into the hands of far more people throughout the organisation and even in places that were previously completely unthinkable. How? By building easy-to-use apps based on their computational models, customised to suit specific business needs.
Making decisions with simulation data
Let's imagine a company that produces luxury cars. Today's consumers expect a lot more from their ride than safely going from point A to point B – one of those things being sound quality.
While market research can guide you to this realisation, acting on it requires more than just sourcing a luxury loudspeaker and putting it into the car. There are many factors that affect sound quality inside a car cabin: the way sound bounces off the interior might go from acoustic bliss to tinny tunes if the car door design changes or the customer chooses a different type of trim. By using multiphysics modelling, you can accurately visualise how different designs will sound in specific car cabins and optimise designs and configurations before going to production. One supplier of audio technology for car manufacturers built its own custom simulation apps to quickly and easily visualise how its loudspeakers would sound inside the car environment, design changes and all.
Next, let's consider an inventory example. On the surface, it is just a numbers game, but in reality, physics and chemistry also have a hand in the pot. Food expires at different rates depending on various factors such as storage conditions. In the global food supply chain, cold rooms are used for storing fresh produce between picking and shipping.
The problem is that refrigerated space is often scarce and occupied by crops that are past their peak while new shipments sit around waiting for refrigeration. Engineers from an organisation in Switzerland knew that multiphysics simulation could be used to predict how many days are left before a particular fruit expires by accounting for overall size, peel thickness, air flow, temperature and humidity. In their pursuit of solving the refrigerated food storage problem in developing countries, the engineers joined a multinational consortium of food supply stakeholders to build a mobile app powered by multiphysics simulation with an interface customised for cold room managers and farmers.
It worked: In August 2022, the company rolled out its app to 17 cold rooms serving more than 300 farmers, who reported a 20 per cent increase in income and 20 per cent reduction in post-harvest food losses.
Now, consider a construction company. Building more structures leads to more revenue, but hiring enough contractors for the job and motivating them to work quickly does not guarantee a greater profit. Choices made at the construction site determine how fast concrete will harden and ultimately how strong and durable it will be. Without predictive analysis, picking the best concrete mix and deciding when to remove the supporting framework involves mostly intuition and conjecture.
One of the world's largest suppliers of cement, aggregates and precast concrete rolled out an app to take away the guesswork for contractors. The simulation app incorporates information such as onsite weather conditions, both current and in the forecast, to provide a more accurate estimate of how fast the concrete will cure.
These are just a few examples of how simulation helps inform business decisions, but the number of possible use cases is endless. Simulation data belongs anywhere decisions are made. When organisations build and distribute their own custom apps, everyone in the workforce will be able to make decisions based on forecasts that account for real-world complexities and the underlying laws of physics – without having to first learn how to use simulation software. The world is ever changing, and simulation apps help companies and teams of all kinds keep pace.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Food truck companies face backlash for catering ‘Alligator Alcatraz'
Food truck companies face backlash for catering ‘Alligator Alcatraz'

The Independent

time29 minutes ago

  • The Independent

Food truck companies face backlash for catering ‘Alligator Alcatraz'

Several food truck companies have been hit with major backlash online after they were filmed entering Florida's 'Alligator Alcatraz' detention center. The four companies issued statements after customers threatened to boycott them for doing catering business at the controversial prison in the Everglades. President Donald Trump toured the migrant detention facility earlier this week, which was built in just eight days on a disused air strip as he looks to ramp up deportations. A TikToker filmed trucks belonging to Kona Ice, Churro Mania, Elote Lovers and entering the hastily-constructed facility on July 1, according to the social media post. 'Boycott Kona Ice, Churro Mania, Elote Lovers & the user, Osozalez, posted. 'They love our food but hate out [sic] people.' The TikTok post has received more than 7.5 million views since it was shared earlier this week. The food trucks were contracted to cater for the construction crews building the detention center, according to The Miami Herald. O ther outlets reported the vans were hired for a catering event at the facility. A number of responses to the TikTok post – which received nearly 30,000 comments – said that they would be avoiding the companies in the future. 'Welp, my kids are NEVER getting Kona ice ever again,' one mother wrote. 'The audacity Kona Ice has to show up in my local charter school events that is mostly Hispanic/Latino population is insane. Never again,' another person said. 'Are they seriously celebrating with food from the very people they are locking up there?!' someone else added. 'Boycott them ALL! They can't get my money EVER again!' another said. Churromania, a chain that has more than 120 locations across the U.S. and South America, said it was 'not an event we support' in a statement on social media. 'We have no political agenda, and never have. Still, we take full responsibility for how this looked,' the company said. Ms. Cheezious, a Miami food truck company that serves grilled cheese, said they were approached by a 'disaster response company' to provide meals for 'active service members' stationed at the facility. 'Contrary to misleading online narratives, our presence was not part of any celebration or grand opening, and we are not engaged in ongoing services there,' read a statement on Instagram. Elote Lovers, a Miami-based street food business, issued a lengthy statement on Instagram. 'We did not attend with the intention of supporting this place or what it represents,' the statement said in part. 'We do not support, condone, or align ourselves with any form of oppression, abuse, or injustice. We never have and never will.' The business, which said it was founded by an immigrant family, added that they would reassess how they accept and review bookings in the future to 'ensure our values are respected wherever we go.' Shaved ice company Kona Ice said its trucks are independently owned and operated by franchisees. 'The event was booked through an unknown agency, and the franchisee was unaware of the facility's nature or its association with politically sensitive issues,' Kona Ice's statement read in part. 'Our brand exists to bring a moment of happiness to communities through our shaved ice experience – and we recognize the importance of ensuring that mission is never misinterpreted,' the statement added. The first inmates started arriving at the detention center on Thursday, which is expected to cost $450 million a year to run.

Tech CEO scraps unlimited holiday: ‘Bad employees take too much off'
Tech CEO scraps unlimited holiday: ‘Bad employees take too much off'

Telegraph

time32 minutes ago

  • Telegraph

Tech CEO scraps unlimited holiday: ‘Bad employees take too much off'

A Silicon Valley 'tech bro' has scrapped offering staff unlimited paid holiday after complaining 'B-performers' were abusing the perk. Ryan Breslow, 31, co-founder and chairman of one-click payment company Bolt, spearheaded the initiative as part of his scheme to overhaul traditional working patterns. But, writing on LinkedIn, Mr Breslow, said: 'It sounds progressive, but it's totally broken. When time off is undefined, the good ones don't take [it]. The bad ones take too much. 'This leads to A-performer burnout. B-performer luxuries. And feelings of unfairness across the board. 'So we're flipping the script: no more confusion. Every Bolter now gets four weeks of paid vacation (yes, the traditional corporate standard), with the opportunity to accrue more with tenure. 'Not optional,' Mr Breslow added. 'We mandate everyone take all four weeks off.' Mr Breslow's rise in high-tech has been meteoric after founding the company in 2014. By May 2022, Bolt had 8,000 staff, was valued at $11 billion (£8 billion), and Mr Breslow had become one of the world's youngest self-made billionaires. He also saw himself as a visionary, developing the 'Conscious Culture Playbook', which ripped up the traditional staff handbook. Mr Breslow is not the only US employer to offer unlimited paid leave, with the perk having grown in popularity over the last two decades. By 2023, it was offered by eight per cent of US companies, while workers in other American companies often found that holiday entitlements were far less generous than their counterparts in Europe. Research has shown that those offered the perk take two to three more days off a year than workers with companies with fixed holiday entitlement. But there is also evidence that workers can also be reluctant to take advantage of the scheme, fearing that being marked out as a loafer can put their job at risk when companies need to shed staff. Robert Sweeney, chief executive of technology company Facet, was among the sceptics. 'Unlimited vacation is a scam,' he wrote in a 2019 blog post after his company reverted back to the traditional model. 'Vacation is not really unlimited. If you take too much time off, you will get fired.'

Social Security tax break means $6,000 more a year for those who fit a particular criteria
Social Security tax break means $6,000 more a year for those who fit a particular criteria

Daily Mail​

time40 minutes ago

  • Daily Mail​

Social Security tax break means $6,000 more a year for those who fit a particular criteria

Some seniors are about to get a major Social Security tax break as a result of Donald Trump's 'big, beautiful bill.' The bill offers a $6,000 tax deduction for individuals 64 and over who pay income tax on their Social Security benefit because they earn over a certain threshold. However, the deduction starts phasing out for individuals who earn more than $75,000, or $150,000 for couples. Those earning $175,000 or over - $250,000 for couples - are not entitled to the deduction at all. 'This amounts to the largest tax break in American history for our nation's seniors,' the White House Council of Economic Advisers wrote in a recent report. However, 64 percent of seniors do not earn enough to pay taxes on Social Security anyway, and therefore will not benefit from the break. For those it does affect, the break will only last until 2028 when Trump leaves office. The $6,000 measure falls short of Trump's initial promises to remove all taxes on Social Security income. Wealthy retirees will receive the 'significant' tax break until 2028 However, the White House argues it comes close with 88 percent of seniors now no longer subject to tax on the benefit. 'The One Big Beautiful Bill delivers on President Trump's promise of no tax on Social Security,' a spokesperson for the White House said in a statement. This is a 'substantial tax break' for upper-middle class Americans who pay taxes on retirement benefits, Marc Goldwein, from the Committee for a Responsible Federal Budget, told Axios. However, for the millions of senior citizens who live in poverty and therefore are not taxed on their benefit it offers no relief at all, he added. The added cost will also bring forward the expected date at which Social Security and Medicare are estimated to run out of funds. The cost of the new tax deductions will see that date moved forward by a year, to 2032, according to analysis from the Committee for a Responsible Federal Budget. Some have questioned whether seniors are the group most in need of a tax break given their assets have soared in value over their lifetimes. 'As a whole seniors in this country are the wealthiest cohort in the history of the known universe,' Goldwein said. The $6,000 measure falls short of Trump's promises to end all taxes on Social Security income Social Security relies on its trust funds to provide monthly benefit checks to around 70 million Concerns over the long-term future of Social Security are pushing retirees to begin banking their checks as early as possible, even though delaying their claims could lead to higher payments. Every year you delay taking a Social Security payment after full retirement age you receive a significant increase in payments up to the age of 70. Benefits taken for the first time at age 70 would be 76 percent higher than if they were claimed at 62, according to Boston University economist Laurence Kotlikoff. Therefore, someone who put off claiming until they were 70 instead of 62 would end up with more dollars in their pocket if they live to at least 80.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store