| Title | An Internet of Things-enabled decision support system for circular economy business model |
|---|---|
| ID_Doc | 4196 |
| Authors | Mboli, JS; Thakker, D; Mishra, JL |
| Title | An Internet of Things-enabled decision support system for circular economy business model |
| Year | 2022 |
| Published | Software-Practice & Experience, 52, 3 |
| Abstract | The traditional linear economy using a take-make-dispose model is resource intensive and has adverse environmental impacts. Circular economy (CE) which is regenerative and restorative by design is recommended as the business model for resource efficiency. While there is a need for businesses and organisations to switch from linear to CE, there are several challenges that needs addressing such as business models and the criticism of CE projects often being small scale. Technology can be an enabler toward scaling up CE; however, the prime challenge is to identify technologies that can allow predicting, tracking and proactively monitoring product's residual value to motivate businesses to pursue circularity decisions. In this paper, we propose an IoT-enabled decision support system (DSS) for CE business model that effectively allows tracking, monitoring, and analysing products in real time with the focus on residual value. The business model is implemented using an ontological model. This model is complemented by a semantic decision support system. The semantic ontological model, first of its kind, is evaluated for technical compliance. We applied DSS and the ontological model in a real-world use case and demonstrate viability and applicability of our approach. |
Similar Articles
| ID | Score | Article |
|---|---|---|
21146
|
Ingemarsdotter, E; Jamsin, E; Balkenende, R Opportunities and challenges in IoT-enabled circular business model implementation - A case study(2020) | |
| 17008
|
Alcayaga, A; Hansen, EG Smart-circular systems: a service business model perspective(2017) | |
| 27909
|
Ingemarsdotter, E; Jamsin, E; Kortuem, G; Balkenende, R Circular Strategies Enabled by the Internet of Things-A Framework and Analysis of Current Practice(2019)Sustainability, 11.0, 20 | |
| 4909
|
Botea-Muntean, DR; Constantinescu, R Internet of Things - one of the Digital Steps that Companies Should Consider towards Circular Economy and Sustainability An Exploratory Case Study Defined by the Sustainable Retrospective of one of the Top Global Retail Groups(2023)Proceedings Of The International Conference On Business Excellence, 17, 1 | |
| 3225
|
Turskis, Z; Sniokiene, V IoT-Driven Transformation of Circular Economy Efficiency: An Overview(2024)Mathematical And Computational Applications, 29, 4 | |
| 28841
|
Miaoudakis, A; Fysarakis, K; Petroulakis, N; Alexaki, S; Alexandirs, G; Ioannidis, S; Spanoudakis, G; Katos, V; Verikoukis, C Pairing a Circular Economy and the 5G-Enabled Internet of Things: Creating a Class of ?Looping Smart Assets?(2020)Ieee Vehicular Technology Magazine, 15.0, 3 | |
| 1821
|
Bressanelli, G; Adrodegari, F; Perona, M; Saccani, N The role of digital technologies to overcome Circular Economy challenges in PSS Business Models: an exploratory case study(2018) | |
| 5324
|
Alcayaga, A; Hansen, EG Smart circular economy as a service business model: an activity system framework and research agenda(2024) | |
| 22285
|
Hatzivasilis, G; Christodoulakis, N; Tzagkarakis, C; Ioannidis, S; Fysarakis, K; Demetriou, G; Panayiotou, M The CE-IoT Framework for Green ICT Organizations The interplay of CE-IoT as an enabler for green innovation and e-waste management in ICT(2019) | |
| 4252
|
Rejeb, A; Suhaiza, Z; Rejeb, K; Seuring, S; Treiblmaier, H The Internet of Things and the circular economy: A systematic literature review and research agenda(2022) |