Optimization approach for increasing revenue of perishable product supply chain with the Internet of Things

2017 ◽  
Vol 117 (4) ◽  
pp. 729-741 ◽  
Author(s):  
Rui Yan
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
The Internet ◽  
Human Society ◽  
Content Type ◽  
Perishable Product ◽  
Before And After ◽  
Revenue Models ◽  
The Internet Of Things

Purpose The purpose of this paper is to optimize a two-level perishable product supply chain by increasing its revenue with the Internet of Things (IoT). It particularly investigates how radio-frequency identification (RFID) technology impacts the revenue of the supply chain. Design/methodology/approach In this paper, two revenue models were built to calculate the revenue of perishable product supply chain before and after the application of IoT to analyze the influences of IoT on perishable product supply chain. In the case study, particular data of an aquatic product supply chain were analyzed through these models which were later solved by a computer simulation method based on Colonial Competitive Algorithm, a new heuristic algorithm inspired by imperialistic competition in human society. Findings Using these revenue models to compare the revenues of supply chain before and after the application of IoT, this paper concludes that the application of IoT can efficiently optimize a perishable product supply chain by balancing its wholesale profits and its total costs including logistics costs, therefore, increasing its overall revenue. However, this conclusion is only applicable for large enterprises, while small enterprises are not supposed to introduce IoT due to its high cost. Originality/value The revenue models built in this paper can be used to evaluate the profits of supply chain and help enterprises determine how to maximize their profits and whether they should introduce IoT in a perishable product supply chain. In addition, through the analysis of case study, this paper gives several valuable suggestions to help enterprises reduce their logistics costs and increase their overall revenue.

IoT ecosystem faces fragmented future

2019 ◽  
Keyword(s):  
Artificial Intelligence ◽  
Cloud Computing ◽  
Supply Chain ◽  
Internet Of Things ◽  
Data Privacy ◽  
The Internet ◽  
Privacy And Security ◽  
Content Type ◽  
Iot Devices ◽  
The Internet Of Things

Subject IoT ecosystem. Significance The market for the Internet of Things (IoT) or connected devices is expanding rapidly, with no manufacturer currently forecast to dominate the supply chain. This has fragmented the emerging IoT ecosystem, triggering questions about interoperability and cybersecurity of IoT devices. Impacts Firms in manufacturing, transportation and logistics and utilities are expected to see the highest IoT spending in coming years. The pace of IoT adoption is inextricably linked to that of related technologies such as 5G, artificial intelligence and cloud computing. Data privacy and security will be the greatest constraint to IoT adoption.

scholarly journals Three-level supply chain coordination of fresh agricultural products in the Internet of Things

2017 ◽  
Vol 117 (9) ◽  
pp. 1842-1865 ◽  
Author(s):  
Bo Yan ◽  
Xiao-hua Wu ◽  
Bing Ye ◽  
Yong-wang Zhang
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Supply Chain Coordination ◽  
Revenue Sharing ◽  
Agricultural Product ◽  
The Internet ◽  
Market Demand ◽  
Content Type ◽  
Revenue Sharing Contract ◽  
The Internet Of Things

Purpose The Internet of Things (IoT) is used in the fresh agricultural product (FAP) supply chain, which can be coordinated through a revenue-sharing contract. The purpose of this paper is to make the three-level supply chain coordinate in IoT by considering the influence of FAP on market demand and costs of controlling freshness on the road. Design/methodology/approach A three-level FAP supply chain that comprises a manufacturer, distributor, and retailer in IoT is regarded as the research object. This study improves the revenue-sharing contract, determines the optimal solution when the supply chain achieves maximum profit in three types of decision-making situations, and develops the profit distribution model based on the improved revenue-sharing contract to coordinate the supply chain. Findings The improved revenue-sharing contract can coordinate the FAP supply chain that comprises a manufacturer, distributor, and retailer in IoT, as well as benefit all enterprises in the supply chain. Practical implications Resource utilization rate can be improved after coordinating the entire supply chain. Moreover, loss in the circulation process is reduced, and the circulation efficiency of FAPs is improved because of the application of IoT. The validity of the model is verified through a case analysis. Originality/value This study is different from other research in terms of the combination of supply chain coordination, FAPs, and radio frequency identification application in IoT.

Artificial Intelligence powered Internet of Things and smart public service

2019 ◽  
Vol 38 (1) ◽  
pp. 165-179 ◽  
Author(s):  
Ying Ma ◽  
Kang Ping ◽  
Chen Wu ◽  
Long Chen ◽  
Hui Shi ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Public Service ◽  
Smart Cities ◽  
Machine Learning Algorithms ◽  
The Internet ◽  
Content Type ◽  
Academic Fields ◽  
The Internet Of Things

Purpose The Internet of Things (IoT) has attracted a lot of attention in both industrial and academic fields for recent years. Artificial intelligence (AI) has developed rapidly in recent years as well. AI naturally combines with the Internet of Things in various ways, enabling big data applications, machine learning algorithms, deep learning, knowledge discovery, neural networks and other technologies. The purpose of this paper is to provide state of the art in AI powered IoT and study smart public services in China. Design/methodology/approach This paper reviewed the articles published on AI powered IoT from 2009 to 2018. Case study as a research method has been chosen. Findings The AI powered IoT has been found in the areas of smart cities, healthcare, intelligent manufacturing and so on. First, this study summarizes recent research on AI powered IoT systematically; and second, this study identifies key research topics related to the field and real-world applications. Originality/value This research is of importance and significance to both industrial and academic fields researchers who need to understand the current and future development of intelligence in IoT. To the best of authors’ knowledge, this is the first study to review the literature on AI powered IoT from 2009 to 2018. This is also the first literature review on AI powered IoT with a case study of smart public service in China.

Mitigating information asymmetry in inventory pledge financing through the Internet of things and blockchain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lixin Liu ◽  
Justin Zuopeng Zhang ◽  
Wu He ◽  
Wenzhuo Li
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Information Asymmetry ◽  
Commercial Banks ◽  
Business Models ◽  
Service Providers ◽  
The Internet ◽  
Novel Ecosystem ◽  
Content Type ◽  
The Internet Of Things

PurposeRisks resulted from asymmetric information have become crucial barriers for commercial banks to implement supply chain finance (SCF) – mainly the inventory pledge financing (IPF). At the same time, online financial service providers (OFSPs) are emerging as strong competitors in the SCF market. As a result, commercial banks need to update their traditional SCF business models and alleviate their over-dependence on OFSPs.Design/methodology/approachThe authors employ a multi-case-study method to investigate how the Internet of things (IoT) and blockchain technologies can be jointly leveraged to mitigate SCF risks. In-depth interviews were conducted to depict the business models and their novel ecosystem to reinforce traditional banks' ability in SCF services.FindingsFrom the perspective of information asymmetry, the authors categorize IPF risks into three groups based on the principal-agent theory: collateral, warehousing and liquidity risk. The findings suggest that IoT can primarily improve traditional banks' information acquisition ability, and blockchain can facilitate credible information transformation, enabling banks to acquire knowledge from collaterals. Besides, the e-platform in the new architecture increases banks' involvement in the supply chain and builds a fair network to curtail warehousing risks. The employment of smart contracts and collaborative mechanism ensure process and outcome control in mitigating liquidity risks.Originality/valueThe research contributes to the literature by confirming the role of emerging technologies in reducing information asymmetry risks. Besides, the findings provide valuable insights for practitioners to promote effective practices and approaches in IPF.

The internet of things in the food supply chain: adoption challenges

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ammar Mohamed Aamer ◽  
Mohammed Ali Al-Awlaqi ◽  
Ifadhila Affia ◽  
Silvia Arumsari ◽  
Nabeel Mandahawi
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Literature Review ◽  
Food Supply ◽  
Future Research ◽  
The Internet ◽  
Food Supply Chain ◽  
Content Type ◽  
Contextual Understanding ◽  
The Internet Of Things

PurposeThe food supply chain (FSC) challenges coupled with global disruptions, such as the recent coronavirus disease 2019 (COVID-19) pandemic outbreak, exacerbate its vulnerability. The Internet of things (IoT) is one of the disruptive technologies being adopted in food supply chain management (FSCM). This study aims to address the challenges of IoT adoption in the FSC by systematically analyzing the prior pertinent literature.Design/methodology/approachA structured literature review was used to collate a list of peer-reviewed and relevant publications. A total of 72 out of 210 articles were selected for the final evaluation.FindingsThe literature review findings suggest five themes: technical, financial, social, operational, educational and governmental related challenges. A total of 15 challenges were devised from the review related literature of IoT adoption. The study concludes with future research recommendations for scholars and practical implications for practitioners.Research limitations/implicationsWhile this study focuses on the overall FSC, further research should address other domains in the FSC such as cold supply chain, agriculture and perishable food to gain a better contextual understanding of the specific case.Originality/valueThe topic of IoT adoption in the FSCM is still considered emerging. Therefore, the present work contributes to the limited studies and documentation on the level of IoT implementation in the FSCM. This study should help organizations to assimilate how to adopt and manage the IoT application by addressing the factors and challenges presented in this research.

A four-step blueprint for digital reinvention

2016 ◽  
Vol 44 (4) ◽  
pp. 18-25 ◽  
Author(s):  
Saul J. Berman ◽  
Peter J. Korsten ◽  
Anthony Marshall
Keyword(s):  
Internet Of Things ◽  
Design Methodology ◽  
The Internet ◽  
Content Type ◽  
New Ways Of Working ◽  
Partner Relationships ◽  
Strategic Focus ◽  
The Internet Of Things ◽  
Practical Implications ◽  
Customer Need

Purpose Digital reinvention helps organizations create unique, compelling experiences for their customers, partners, employees and other stakeholders. Design/methodology/approach Digital reinvention combines the capabilities of multiple technologies, including cloud, cognitive, mobile and the Internet of Things (IoT) to rethink customer and partner relationships from a perspective of fundamental customer need, use or aspiration. Findings The most successful digitally reinvented businesses establish a platform of engagement for their customers, with the business acting as enabler, conduit and partner Practical implications For successful digital reinvention, organizations need to pursue a new strategic focus, build new expertise and establish new ways of working. Originality/value The article offers a blueprint for digital reinvention that involves rethinking customer and partner relationships from a perspective of fundamental customer need, use or aspiration.

The future of the Internet of Things: toward heterarchical ecosystems and service business models

2018 ◽  
Vol 33 (6) ◽  
pp. 749-767 ◽  
Author(s):  
Seppo Leminen ◽  
Mervi Rajahonka ◽  
Mika Westerlund ◽  
Robert Wendelin
Keyword(s):  
Internet Of Things ◽  
Business Model ◽  
Value Chain ◽  
Large Scale ◽  
Business Models ◽  
The Internet ◽  
Content Type ◽  
Industry Collaboration ◽  
New Business ◽  
The Internet Of Things

Purpose This study aims to understand their emergence and types of business models in the Internet of Things (IoT) ecosystems. Design/methodology/approach The paper builds upon a systematic literature review of IoT ecosystems and business models to construct a conceptual framework on IoT business models, and uses qualitative research methods to analyze seven industry cases. Findings The study identifies four types of IoT business models: value chain efficiency, industry collaboration, horizontal market and platform. Moreover, it discusses three evolutionary paths of new business model emergence: opening up the ecosystem for industry collaboration, replicating the solution in multiple services and return to closed ecosystem as technology matures. Research limitations/implications Identifying business models in rapidly evolving fields such as the IoT based on a small number of case studies may result in biased findings compared to large-scale surveys and globally distributed samples. However, it provides more thorough interpretations. Practical implications The study provides a framework for analyzing the types and emergence of IoT business models, and forwards the concept of “value design” as an ecosystem business model. Originality/value This paper identifies four archetypical IoT business models based on a novel framework that is independent of any specific industry, and argues that IoT business models follow an evolutionary path from closed to open, and reversely to closed ecosystems, and the value created in the networks of organizations and things will be shareable value rather than exchange value.

Standards for the Internet of Things: A Case Study in Disaster Response

Computer ◽  
2016 ◽  
Vol 49 (5) ◽  
pp. 87-90 ◽  
Author(s):  
Phillip A. Laplante ◽  
Jeffrey Voas ◽  
Nancy Laplante
Keyword(s):  
Internet Of Things ◽  
Disaster Response ◽  
The Internet ◽  
The Internet Of Things

The Internet of Things and its impact on the library

2016 ◽  
Vol 117 (3/4) ◽  
pp. 289-292 ◽  
Author(s):  
Bruce Massis
Keyword(s):  
Internet Of Things ◽  
Literature Review ◽  
Design Methodology ◽  
Security And Privacy ◽  
The Internet ◽  
Content Type ◽  
Privacy Concerns ◽  
Potential Impact ◽  
The Internet Of Things

Purpose – The purpose of this paper is to consider the Internet of Things (IOT) and its potential impact on libraries. Design/methodology/approach – This paper presents a literature review and a commentary on this topic that have been addressed by professionals, researchers and practitioners. Findings – In communicating the issues when comprehending the scope of the IOT, libraries need not succumb to the sometimes near-hysteria that surrounds the rhetoric regarding security and privacy. But, librarians must actively engage in the conversation and its subsequent actions to respond to patrons who use library networks and devices with calm, logical and transparent answers to those questions concerning what they are doing to ensure that security and privacy vulnerabilities are regularly addressed. Originality/value – The value in concentrating on this topic is to provide background and suggest several approaches to security and privacy concerns regarding the IOT.

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