Toward Cloud Manufacturing: A Decision Guidance Framework for Markets of Virtual Things

Xu Han, Alexander Brodsky

2022

Abstract

In the value creation chain today, entrepreneurs have been faced with stiff hindrance in turning their innovative ideas into marketable products due to the manufacturing-entrepreneurship disconnect in terms of accessibility, predictability and agility. Toward bridging this gap, in this paper we develop a formal mathematical framework for markets of virtual things: parameterized products and services that can be searched, composed and optimized. The proposed framework formalizes the notions of virtual product and service designs and customer-facing specs as well as requirements’ specs. Based on these formal concepts, the framework also formalizes the notions of search for and composition of virtual products and services that (1) are mutually consistent with the requirement specs, (2) are Pareto-optimal in terms of customer-facing metrics such as cost, product desirable characteristics and delivery terms; and (3) that are optimal in terms of customer utility function that is expressed in terms of customer facing metrics. We also propose the design of a repository of virtual things and their artifacts, to be used in support of the virtual things’ markets. The proposed markets of virtual things can lead to democratizing innovation by allowing entrepreneurs without design and manufacturing expertise to bring their ideas to markets quickly.

Paper Citation

in Harvard Style

Han X. and Brodsky A. (2022). Toward Cloud Manufacturing: A Decision Guidance Framework for Markets of Virtual Things. In Proceedings of the 24th International Conference on Enterprise Information Systems - Volume 2: ICEIS, ISBN 978-989-758-569-2, pages 406-417. DOI: 10.5220/0011114100003179

in Bibtex Style

@conference{iceis22,
author={Xu Han and Alexander Brodsky},
title={Toward Cloud Manufacturing: A Decision Guidance Framework for Markets of Virtual Things},
booktitle={Proceedings of the 24th International Conference on Enterprise Information Systems - Volume 2: ICEIS,},
year={2022},
pages={406-417},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011114100003179},
isbn={978-989-758-569-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 24th International Conference on Enterprise Information Systems - Volume 2: ICEIS,
TI - Toward Cloud Manufacturing: A Decision Guidance Framework for Markets of Virtual Things
SN - 978-989-758-569-2
AU - Han X.
AU - Brodsky A.
PY - 2022
SP - 406
EP - 417
DO - 10.5220/0011114100003179