An agent-based negotiation protocol for supply chain finance

Fiedler, Alexandra

doi:10.1016/j.cie.2022.108136

Cited by 13 publications

(5 citation statements)

References 21 publications

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“…In 2009, Pfohl and Gomm [ 3 ] emphasized that supply chain finance assists in the capital cycle among supply chain enterprises and, compared to other commercial bank loans, can more effectively increase the profits of supply chain participants. Therefore, scholars generally regard supply chain finance as an essential service for promoting efficient capital flow in the supply chain [ 4 ]. Overall, introducing third-party financial institutions to manage the capital flow of the supply chain can minimize its financial costs [ 5 ].…”

Section: Literature Reviewmentioning

confidence: 99%

Research on trust mechanism of supply chain finance under Industrial Internet embedded with blockchain

Jiang,

Li,

Wei

et al. 2024

PLoS ONE

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In traditional supply chain finance, the financing of enterprise mainly relies on the credit segmentation of the core enterprise, resulting in a short trust transmission radius and poor financing ability. The development of Internet technology, while expanding financing channels, has also seen an increasing severity in issues such as information fraud and data breaches, which has further aggravated the trust crisis in supply chain finance. This paper integrates blockchain technology into the industrial internet platform and analyzes the applicability of both in empowering supply chain financial trust. Then a supply chain financial trust framework, which emphasizes information sharing, data security, and trust circulation, is proposed. Furthermore, combined with the theories of Funk-SVD and entropy value, this paper designs a global trust evaluation mechanism that facilitates the trust circulation in supply chain finance and proposes a recommendation algorithm for global trust. With the testing conducted using the Epinions dataset, it is found that the algorithm proposed in this paper has a strong data dimensionality reduction and concentration ability, especially for large sample data, it can obtain more accurate evaluation values with less space occupation, thus enhancing the trust circulation ability of supply chain finance. Finally, the paper puts forward specific policy recommendations for the implementation of the supply chain finance information mechanism, aiming to better improve the financing accessibility of enterprises in supply chain, particularly small and medium-sized enterprises.

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Section: Literature Reviewmentioning

confidence: 99%

Research on trust mechanism of supply chain finance under Industrial Internet embedded with blockchain

Jiang,

Li,

Wei

et al. 2024

PLoS ONE

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“…The multi-issue negotiation protocol simultaneously considers the consumption interval, the price, and the size of the energy packages. Fiedler [33] proposed a multi-agent system to automate and facilitate selecting the best financing options in SCF. An automated negotiation process in the form of an auction realizes it by modeling the information asymmetry between external and internal supply chain actors and additional external effects for internal supply chain actors while taking over financing.…”

Section: Related Workmentioning

confidence: 99%

Multi-Issue Negotiation Protocol with Pre-Domain Narrowing

Hosokawa¹,

Kawata²,

Fujita³

2023

Applied Sciences

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Consensus building among agents is crucial in multi-agent systems because each agent acts independently according to its utility function, and conflict among agents can occur. Therefore, automated negotiation is an essential technology for efficiently resolving conflicts and forming consensuses while also maintaining agents’ privacy. As the domain to be negotiated is large, the computational cost of reaching a consensus increases and the agreement rate decreases. Some negotiation protocols have been proposed wherein a mediator collects the utility information of each agent and creates multiple alternatives of agreements to handle large-scale multi-issue negotiations. However, in such protocols, a limitation is placed on agents’ privacy because all agents have to disclose their private information by following the mediator and pre-decided negotiation rules. In this study, we propose a negotiation protocol with a predomain-narrowing phase to enable efficient negotiations in large-scale domains which can maintain the privacy of information that agents should not disclose to their opponents or the mediator. The proposed protocol divides the negotiation process into a predomain-narrowing phase and the main negotiation phase. In the proposed protocol, the parts subject to negotiation are first narrowed in upon, and then the main negotiation is performed. We also propose two narrowing methods: issue- and option-narrowing. Further, we propose naive agent strategies considering the predomain-narrowing phase. We perform comparative simulation experiments between the baseline negotiation protocol without a domain-narrowing phase and the proposed negotiation protocol with the predomain-narrowing phase. The experimental results show that the proposed protocol achieves higher agreement rates in less negotiation time than the baseline.

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“…Through the digitalization of business processes, MAS can take over decision-making from humans and arrive at equally good or better solutions at greater speed (Müller and Fischer, 2014). In summary, MAS offer great potential for creating supply chains that are partially or fully autonomous (Ghadimi et al , 2019; Fiedler, 2022).…”

Section: Introductionmentioning

confidence: 99%

The impact of multiagent systems on autonomous production and supply chain networks: use cases, barriers and contributions to logistics network resilience

Nitsche

Brands

Treiblmaier

et al. 2023

SCM

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Purpose Academics and practitioners have long acknowledged the potential of multiagent systems (MAS) to automate and autonomize decision-making in logistics and supply chain networks. Despite the manifold promises of MAS, industry adoption is lagging behind, and the exact benefits of these systems remain unclear. This study aims to fill this knowledge gap by analyzing 11 specific MAS use cases, highlighting their benefits, clarifying how they can help enhance logistics network resilience and identifying existing barriers. Design/methodology/approach A three-stage Delphi study was conducted with 18 industry experts. In the first round, these experts identified 11 use cases of MAS and their potential benefits, as well as any barriers that could hinder their adoption. In the second round, they assessed the identified use cases with regard to their potential to enhance logistics network resilience and improve organizational productivity. Furthermore, they estimated the complexity of MAS implementation. In the third round, the experts reassessed their evaluations in light of the evaluations of the other study participants. Findings This study proposes 11 specific MAS use cases and illustrates their potential for increasing logistics network resilience and enhancing organizational performance due to autonomous decision-making in informational processes. Furthermore, this study discusses important barriers for MAS, such as lack of standardization, insufficient technological maturity, soaring costs, complex change management and a lack of existing use cases. From a theoretical perspective, it is shown how MAS can contribute to resilience research in supply chain management. Practical implications The identification and assessment of diverse MAS use cases informs managers about the potential of this technology and the barriers that need to be overcome. Originality/value This study fills a gap in the literature by providing a thorough and up-to-date assessment of the potential of MAS for logistics and supply chain management. To the best of the authors’ knowledge, this is the first study to investigate the relevance of MAS for logistics network resilience using the Delphi method.

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An agent-based negotiation protocol for supply chain finance

Cited by 13 publications

References 21 publications

Research on trust mechanism of supply chain finance under Industrial Internet embedded with blockchain

Research on trust mechanism of supply chain finance under Industrial Internet embedded with blockchain

Multi-Issue Negotiation Protocol with Pre-Domain Narrowing

The impact of multiagent systems on autonomous production and supply chain networks: use cases, barriers and contributions to logistics network resilience

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