Transactions of the Institute of Systems, Control and Information Engineers
Online ISSN : 2185-811X
Print ISSN : 1342-5668
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A Study on Market-based Strategic Procurement Planning in Convergent Supply Networks
Jayeola Femi OpadijiToshiya Kaihara
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2009 Volume 22 Issue 2 Pages 58-65

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Abstract

We present a market-based decentralized approach which uses a market-oriented programming algorithm to obtain Pareto-optimal allocation of resources traded among agents which represent enterprise units in a supply network. The proposed method divides the network into a series of Walrsian markets in order to obtain procurement budgets for enterprises in the network. An interaction protocol based on market value propagation is constructed to coordinate the flow of resources across the network layers. The method mitigates the effect of product complementarity in convergent network by allowing for enterprises to hold private valuations of resources in the markets.

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© 2009 The Institute of Systems, Control and Information Engineers
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