An agent based framework for resilience modeling of value chains

Abstract

Effective management of value chain dynamics in today’s IT driven global economy has become a key to success in almost every organization. The management of value chains has become a complex process due to the uncertainty of customer demand and other value chain dynamics such as market variations, increasing complexity of business processes, and numerous competitors’ as well unforeseen events during fulfillment. Thus the resilience modeling of value chain is an important issue that is justifiable to be addressed. Resilience Modeling of Value Chains involves changing behaviors of the occupied entities dynamically; hence we need an adaptive, flexible and responsive solution to achieve this scenario. Multi Agent Systems could provide a common space for enabling the interaction among Value chain entities. This paper describes the development of an agent-based software system for assisting in decision-making regarding value chain management and to achieve resilience modeling of value chains. The core architecture is built around the concept of Multi Agent Systems since Agent Technology has been identified most suitable for modeling complex scenarios.