Title: Innovation in supply chains - solving the agency dilemma in supply networks by using industry 4.0 technologies
Authors: Maximilian A. Maier; Jakob J. Korbel; Alexander Brem
Addresses: Justus-Liebig-University Giessen, Licher Straße 66, D-35394 Giessen, Germany ' Alexander von Humboldt Institute for Internet and Society, Oberwallstr. 9, D-10117 Berlin, Germany ' Mads Clausen Institute, University of Southern Denmark, Alsion 2, DK-6400 Sønderborg, Denmark
Abstract: In the past, the agency theory was used to analyse problems within supply networks. This theory suggested different solutions to bring about a reduction in information asymmetries. However, doing so in the future will prove to be difficult owing to the increasing complexity of supply networks. Moreover, along with the fourth industrial revolution - industry 4.0 - new technologies such as cyber physical systems are fast gaining popularity. Hence, based on the analysis of relevant literature, we further develop the supply chain committee model, developed by Kaluza et al. (2003) to demonstrate how upcoming technologies can be integrated. This may help manage agency problems, despite the growth in complexity in supply networks.
Keywords: supply chain management; SCM; agency theory; big data; cyber-physical systems; CPS; agency dilemma; supply networks; industry 4.0; innovative technologies; technology integration; supply chain committee; technological innovation.
International Journal of Communication Networks and Distributed Systems, 2015 Vol.15 No.2/3, pp.235 - 247
Received: 15 Jul 2014
Accepted: 07 Feb 2015
Published online: 02 Aug 2015 *