FAQ about YTWO Formative
1. Who is YTWO Formative?
Founded in 2016, YTWO Formative is a joint venture founded by RIB, the German-based 5D BIM pioneer in construction innovation and Flex, the Silicon-Valley-based, globally recognized sketch to scale solutions provider. The initial investment of $120 million was contributed in equal shares by the two joint venture partners. YTWO Formative combines the strength of RIB’s iTWO technology with Flex’s manufacturing, supply chain management and logistics expertise in order to offer the most state-of-the-art platform to enhance the full building process with digitalization and industrialization.
2. What does YTWO Formative do?
YTWO Formative offers a fully integrated cutting-edge enterprise platform to transform the global building and housing industries. It will manage all projects of the enterprise completely from design to project completion on one centralized cloud-based platform and empowers real-time seamless collaboration among all project stakeholders.
3. What is YTWO Formative’s mission?
YTWO Formative is transforming the building and housing industries by digitalization and industrialization in order to save cost up to 30%.
4. What does YTWO Formative mean?
Y stands for the Generation Y, i.e. the generation who was born after 1980s which was strongly influenced by technology regarding to the tremendous development of computers, digital technology, electronics, etc.
Formative: Giving form or shape; fashioning; molding (e.g., a formative process in manufacturing); pertaining to formation or development (e.g., a child’s formative years) Speaks to the fundamental nature of the platform—core to the building process. Suggests reshaping the industry, starting from square one.
5. What trends are supporting YTWO Formative?
Digitization and industrialization.
Digitization: Through 5D Building Information Modeling (BIM), which combines a Computer Aided Design (CAD) with time and cost, the digitization of the building and housing industry integrates the virtual into the physical construction process. By replacing silo thinking with one single source of truth, the physical construction follows the virtual process. At virtually no cost, the construction process can be optimized and streamlined. Waste from information mismanagement, design clashes, change orders or scheduling conflicts is reduced.
RIB’s iTWO technology, which integrates virtual into physical as well as brings new thinking, new working method and new technology to the industry, is a leading software solution in digitization.
Industrialization: The industrialization of the building and housing industry transfers best-practice manufacturing and supply chain know-how, such as smart production, lean management, modular construction and just-in-time logistics to the construction industry. Cheaper materials produced in a controlled factory environment, delivered to the right place at the right time will reduce costs resulting from excessive inventories, scrap, late deliveries and other supply chain inefficiencies. Flex, which runs more supply chains than any other company worldwide and has a great business foresight about the development in different industries, is an expert in industrialization.
6. How does YTWO combine these two trends?
YTWO Formative combines the best of digitization and industrialization through a cloud-based, big data enterprise platform. It integrates virtual planning, digital ordering, demand-driven smart production and just-in-time logistics, offering the first end-to-end platform that takes construction projects from design to completion. It offers full visibility of the process and full traceability of the material flow out of one intelligent, cloud-based big data enterprise platform.
7. Who are RIB and Flex?
RIB Software AG is an innovator in construction business. Since its inception in 1961, RIB Software AG has been the pioneer in construction innovation, exploring and bringing in iTWO³ – new thinking, new work and new technology – to enhance construction productivity, and to transform the global construction industry into the most advanced and digitalized industry in the 21st century. RIB iTWO today is the world’s first Cloud / License based Big Data 5D BIM enterprise solution for construction, real-estate and industrial business. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With about 800 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.
Flex Ltd. is the Sketch-to-Scale™ solutions provider that designs and builds intelligent products for a connected world. With approximately 200,000 professionals across 30 countries, Flex provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets.
8. What are the roles and responsibilities of YTWO Formative, Flex and RIB?
YTWO Formative is an expert in understanding members’ demand and provides cutting-edge 5D BIM enterprise solution for end-to-end project planning and supply chain management. It also maintains a digital product catalogue based on members’ demand.
Flex sources, assembles or produces the products that are in the YTWO catalogue.
RIB has a dedicated YTWO technology team that serves to ensure the perfect IT solution for YTWO Formative.
9. What is the offering from YTWO Formative?
YTWO Formative combines RIB’s 5D BIM enterprise solution, iTWO, with the supply chain capabilities of Flex.
10. Where is YTWO Formative headquartered?
Guangzhou, China.
11. What is special about YTWO Formative?
- End to end construction process
- Integrating Virtual into Physical
- 5D BIM
- One Single Source of Truth
- Big Data
- Mobility
- Cloud Computing
- YTWO Demand Visibility (YDV)
12. What is 5D BIM?
3D BIM design with time (4th D) and cost (5th D).
13. How does YTWO platform work?
YTWO platform combines the best practice of digitalization and industrialization for building projects. Based on cloud computing, the entire building process form design, estimating, scheduling, procurement, SCM, project management to execution can all be managed timely anywhere, anytime under one single system. The optimized end-to-end process can ensure an on-time project delivery with excellent budget control, high productivity, low risks, and superior project quality.
14. What are the main benefits of YTWO Formative for the building and housing industries?
The main benefits include saving on materials costs, improvement of the labor productivity, reduction of change order and rework, transparent process, better way to compare different bids, better way to make decisions, better communication with all project stakeholders, shorter project time, better control of risk, higher quality of the projects, etc.
15. What is YTWO 5D Lab?
It is a well configured environment to fit for the use of YTWO. New Technology demands new working methods and new environment. YTWO 5D Lab provides a collaborative working environment for all project stakeholders to build projects virtually from end to end before building it physically.
The platform, as well as consulting and implementation, are free of charge to users if they procure a certain required product volume over the platform. Training is provided in YTWO 5D Labs, located in Guangzhou, Stuttgart, New York, Sydney, Memphis, Shanghai and other locations.
16. What is YTWO Smart Production?
YTWO Smart Production provides a suite of software that manages the entire process of the modular construction. It also connects modular construction planning, production, and monitoring processes with the entire project management in YTWO platform, which achieves the full integration of digitalization and industrialization. YTWO Smart Production can manage the entire process from receiving orders, production capacity planning, design, production, and logistics to assembly. It effectively increases productivity, shortens project duration, reduces waste, and conserves resources.
17. What is YTWO product catalog?
YTWO Formative innovatively integrates the BIM-based catalog into the platform. Abundant building materials have been converted into 3D BIM items to support the building model design, quantity take off, estimating and scheduling, in order to create an optimal virtual plan with defined and accurate demand information.
As an important part of the YTWO catalog, modular products are also involved. The modular construction model provides demand information for prefabrication manufacturing systems and directly links to the modular assembly line. It achieves the automatic management on planning, production, and assembling as well as powering up the integration of digitalization and industrialization.
18. What is YDV (YTWO demand visibility)?
With the advanced Virtual-into-Physical building process, YTWO platform creates YTWO Demand Visibility (YDV) which effectively transforms building and housing supply chain from the Push into the Pull system— instead of pushing products to the market by suppliers, YTWO Demand Visibility enables the building companies to pull the supply chain with early defined demands. With the BIM-based product catalog on YTWO, building products are defined and selected during the 5D virtual construction phase to support the building design, quantity takeoff and estimating. YDV provides suppliers a long-term demand planning and enables an efficient production and timely delivery in the supply chain.
19. What is optimized smart supply chain?
With the capability of YTWO Demand Visibility (YDV), the whole supply chain process could be optimized completely. After building the 5D virtual planning, procurement information will be sent digitally to suppliers and demand-driven production occurs with accurate quantities and schedule based on the virtual planning. Direct shipping will be generated by suppliers in order to avoid unnecessary inventory. Needed products will be delivered just-in-time to the construction site.
20. What is the difference between direct cooperation with the suppliers vs. cooperation via YTWO platform? How YTWO can help Customer to achieve benefits?
With the Virtual-into-Physical building process, YTWO platform creates YTWO Demand Visibility (YDV). It enables Customer to pull the supply chain with early defined demand from virtual planning. YDV provides suppliers a long-term demand planning and enables a JIT production and delivery in supply chain. YDV effectively drives demand-driven production to reduce inventory amount and cost.
YTWO aims to help Customer to optimize the entire construction and supply chain management from concept to completion over an end-to-end IT platform. Its value is not only reflected in the pricing of the products but the entire process.
21. What kinds of problems can YTWO solve for building and housing projects?
YTWO is an enterprise platform that empowers all project stakeholders' real-time collaboration on the cloud for all projects throughout the construction lifecycle from the end-to-end including Design, QTO & Estimating, Scheduling, Contract Management, Modular Construction, Supply Chain Management, Project Management and Finance & Controlling. The platform improves project performance by facilitating enterprise wide collaboration, streamlining the construction and finance process, keeping track of a clear cash flow, and enabling multi-project management.
22. Comparing to the other software, what are the strengths for YTWO in project management?
The main strength is the integration of project design, engineering, procurement, and project management under one centralized platform.
Differ from the pure project management software, YTWO is an integrative digitalization enterprise platform. All the historical projects experience will be accumulated and transferred to reusable data. It provides the reference for future projects, which helps to dramatically reduce the project duration and improve the productivity.