Revenue Model of Supply Chain by Internet of Things Technology

• Main Authors: Cai Shousong, Wang Xiaoguang, Zhao Yuanjun
• Format: Article
• Language: English
• Published: IEEE 2019-01-01
• Series: IEEE Access
• Subjects: Multi-product supply chain; Internet of Things (IoT) technology; supply chain optimization; imperialist competitive algorithm (ICA); revenue model
• Online Access: https://ieeexplore.ieee.org/document/8586787/

Under the condition of elastic demand and different market scales, the optimization of multi-product supply chain by the Internet of Things (IoT) technology was studied from the perspective of overall supply chain revenue in this paper. Particularly, the supply chain revenue model in a two-stage multi-product supply chain is established to analyze the impact of the IoT technology on the overall supply chain revenue. The imperialist competitive algorithm is introduced, and the algorithm is improved to solve the model. The computer simulation optimization method is used to solve the example and to compare the overall supply chain revenue and its changes before and after introducing the IoT technology. The result shows that the application of the IoT technology can effectively optimize the multi-product supply chain.