Research Area:  Internet of Things

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.

Keywords:  

Author(s) Name:  Alperen Bal, Fazleena Badurdeen

Publisher name:  Elsevier

DOI:  10.1016/j.promfg.2020.01.162

Volume Information:  Volume 38, 2019, Pages 1284-1291

Paper Link:   https://www.sciencedirect.com/science/article/pii/S2351978920301633