A business model to implement closed-loop material flow in IoT-enabled environments

Alperen Bal, Fazleena Badurdeen

Research output: Contribution to journalConference articlepeer-review

11 Scopus citations

Abstract

Traditional business models are generally sell-oriented, and Product Service Systems (PSS) often focus only on one lifecycle, limiting the prospects for enhancing triple bottom line benefits (TBL). Technological advances enabled through the Internet of Things (IoT) paradigm can facilitate enhancing sustainability by implementing novel business models. In this research we propose a 'Lease-First, Then-Sell' (LFTS) business model adopting the multiple lifecycle approach to design, manufacture and use products. Simulation is used to study the logistics network configuration when implementing this model for different scenarios to identify TBL benefits as well as opportunities and challenges to implement the IoT-enabled LFTS model.

Original languageEnglish
Pages (from-to)1284-1291
Number of pages8
JournalProcedia Manufacturing
Volume38
DOIs
StatePublished - 2019
Event29th International Conference on Flexible Automation and Intelligent Manufacturing, FAIM 2019 - Limerick, Ireland
Duration: Jun 24 2019Jun 28 2019

Bibliographical note

Publisher Copyright:
© 2019 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Keywords

  • 6R
  • Industry 4.0
  • Internet of Things
  • Supply chain
  • Sustainablity

ASJC Scopus subject areas

  • Industrial and Manufacturing Engineering
  • Artificial Intelligence

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