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.
|Number of pages||8|
|State||Published - 2019|
|Event||29th International Conference on Flexible Automation and Intelligent Manufacturing, FAIM 2019 - Limerick, Ireland|
Duration: Jun 24 2019 → Jun 28 2019
Bibliographical noteFunding Information:
This research is supported by The Scientific and Technological Research Council of Turkey (TUBITAK).
© 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/)
- Industry 4.0
- Internet of Things
- Supply chain
ASJC Scopus subject areas
- Industrial and Manufacturing Engineering
- Artificial Intelligence