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Records with Keyword: Supply Chain
Showing records 1 to 25 of 72. [First] Page: 1 2 3 Last
Integrating process and demand uncertainty in capacity planning for next-generation pharmaceutical supply chains
Miriam Sarkis, Nilay Shah, Maria M. Papathanasiou
June 27, 2025 (v1)
Keywords: Advanced Pharmaceutical Manufacturing, Planning & Scheduling, Stochastic Optimization, Supply Chain, Technoeconomic Analysis
Emerging sectors within the biopharmaceutical industry are undergoing rapid scale-up due to the market boom of gene therapies and vaccine platform technologies. Manufacturers are pressured to orchestrate resources and plan investments under future demand uncertainty and, critically, an early-stage process uncertainty for platforms still under development. In this work, a multi-product multi-stage stochastic optimization problem integrating demand uncertainty is presented and augmented with a worst-case optimization approach with respect to process uncertainty. Results focus on a comparison between fixed equipment facilities and modular technologies, highlighting an inherent flexibility of the latter option due to shorter recourse actions for capacity scale-out. The impact of process uncertainty integration is quantified. With more conservative decisions taken in first-stages of the time horizon, expected costs result lower for modular single-use equipment. This suggests that capacity a... [more]
A Techno-Economic Optimization Approach to an Integrated Biomethane and Hydrogen Supply Chain
Sandra Cecilia Cerda Flores, Catherine Azzaro-Pantel, Fabricio Nápoles Rivera
June 27, 2025 (v1)
Subject: Environment
One of the proposed strategies to reach net-zero goals is the diversification of a country’s energy mix and transition to technologies that favour the mitigation of greenhouse gas emissions, while decreasing dependency on conventional fuels. This work presents a mathematical model that describes key production routes for two proposed energy transition vectors, biomethane and hydrogen, expressed as a Mixed-Integer Linear Problem (MILP). The supply chain is optimized with the objective of maximizing the profits from the global supply chain. The problem is formulated as an allocation problem, with production distributed between biomethane and hydrogen markets. The case study focuses on a region in Mexico where second-generation biomass for biogas production is abundant, while hydrogen is produced from biomethane using steam methane reforming. The results highlight the importance of balancing resource allocation in shared supply chains. With a production ratio of 60% biomethane and 40% hyd... [more]
Optimization of Sustainable Fuel Station Retrofitting: A Set-Covering Approach considering Environmental and Economic Objectives
Daniel Vázquez, Raul Calvo-Serrano
June 27, 2025 (v1)
Subject: Environment
In this work, we propose a mixed-integer linear programming (MILP) model that optimizes economic and environmental objectives by retrofitting fuel stations for the case study of Spain. The model contains set-covering constraints that ensure that there is at least one retrofitted fuel station within a radius of 20 kilometers of each retrofitted fuel station. The results indicate that by retrofitting fuel stations to allow for electric vehicles, both economic and environmental objectives improve, while showing which power plants would be tasked with the increase in electricity production to satisfy the increased electric demand.
A Comparison of Robust Modeling Approaches to Cope with Uncertainty in Independent Terms, considering the Forest Supply Chain Case Study
Frank Piedra-Jimenez, Ana Inés Torres, Maria Analia Rodriguez
June 27, 2025 (v1)
Uncertainty plays a crucial role in strategic supply chain design. In this study, we explore robust approaches to model uncertainty when the non-deterministic parameters are placed in the independent term, on the right-hand side (RHS) of the constraints. We consider the "disjunctive adjustable column-wise robust optimization" (DACWRO), a disjunctive formulation introduced previously in our group, and compare it with the adjustable column-wise robust optimization (ACWRO) formulation, a specific technique for solving robust optimization problems when the original robust optimization approach may assume too-conservative results. Given that the proposed method is based on the generalized disjunctive programming (GDP) technique, it is a higher lever modelling approach that represents the discrete nature of the decision process. In addition, it provides alternative MILP representations that can be further tested and compared. The analysis assesses the computational performance and reformulat... [more]
Temporal Decomposition Scheme for Designing Large-Scale CO2 Supply Chains Using a Neural Network-Based Model for Forecasting CO2 Emissions
José A. Álvarez-Menchero, Rubén Ruiz-Femenia, Raquel Salcedo-Diaz, Isabela Fons Moreno-Palancas, José A. Caballero
June 27, 2025 (v1)
Subject: Optimization
Keywords: Deep learning, Generalized Disjunctive Programming, Lagrangean Decomposition, Mathematical Programming, Mixed Integer Linear Programming, Supply Chain, Time Series Forecasting
The battle against climate change and the search for innovative solutions to mitigate its effects have become the focus of the researchers’ attention. One potential approach to reduce the impacts of the global warming could be the design of a Carbon Capture and Storage Supply Chain (CCS SC). However, the high complexity of the model requires exploring alternative ways to optimise it. In this work, a CCS multi-period supply chain for Europe is designed. Data on CO2 emissions have been sourced from the EDGAR database, which includes information spanning the last 50 years. Since this problem involves optimising the cost and operation decisions over a 10-year time horizon, it would be advisable to forecast carbon dioxide emissions to enhance the reliability of the data used. For this purpose, a neural network-based model is implemented for forecasting N-Beats. Furthermore, a temporal decomposition scheme is used to address the intractability issues of the model. The selected method is Lag... [more]
Joint Optimization of Fair Facility Allocation and Robust Inventory Management for Perishable Consumer Products
Saba Ghasemi Naraghi, Zheyu Jiang
June 27, 2025 (v1)
Keywords: Facility Allocation, Optimization, Perishable Products, Supply Chain
Perishable consumer products like food, cosmetics, and household chemicals face challenges in supply chain management due to limited shelf life and uncertainties in demand and transportation. To address some of these issues, this work proposes a robust optimization framework for jointly optimizing facility allocation and inventory management. The framework determines optimal locations for distribution centers and their assigned customers, as well as inventory policies that minimize the total costs related to transportation, distribution, and storage under uncertain demand in a robust setting. Specifically, we develop a two-stage mixed-integer linear programming (MILP) model is that incorporates First-In-First-Out (FIFO) inventory policy to reduce spoilage. The bilinear FIFO constraints are linearized to improve computational efficiency. Social equity is integrated by defining a fairness index and incorporating it in facility allocation. Demand uncertainty is tackled using a robust opti... [more]
Optimization-based planning of carbon-neutral strategy: Economic priority between CCU vs CCS
Siuk Roh, Chanhee You, Woochang Jeong, Donggeun Kang, Dongin Jung, Donghyun Kim, Jiyong Kim
June 27, 2025 (v1)
Keywords: Carbon capture utilization and storage, CCUS, MILP, ptimization, South Korea, Supply Chain
This study aims to develop an optimization-based approach to design the carbon capture, utilization, and storage (CCUS) supply chain and analyze the optimal configuration and investment strategies. To achieve this goal, we develop an optimization model that determines the logistic decision-making to maximize the net present value (NPV) and minimize the net CO2 emissions (NCE) of the strategies of the CCUS supply chain under logical and practical constraints. We estimate the technical (production scale and energy consumption), economic (capital and operating expenditure), and carbon-related (CO2 emissions) parameters based on the literature. By adjusting major cost drivers and economic bottlenecks, we determined major decision-making problems in the CCUS framework, such as sequestration vs. utilization. As a real case study, the future CCUS system of South Korea was evaluated, which includes three major CO2 emitting industries in South Korea (power plants, steel, and chemicals), as well... [more]
Integrating offshore wind energy into the optimal deployment of a hydrogen supply chain: a case study in Occitanie
Melissa Cherrouk, Catherine Azzaro-Pantel, Florian Dupriez Robin, Marie Robert
June 27, 2025 (v1)
Subject: Optimization
Keywords: Hydrogen, mixed-integer linear programming, offshore wind, Optimization, Supply Chain
The urgent need to mitigate climate change and reduce reliance on fossil fuels highlights green hydrogen as a key component of the global energy transition. This study assesses the feasibility of producing hydrogen offshore using wind energy, focusing on economic and environmental aspects. Offshore wind energy offers several advantages: access to water for electrolysis, potentially lower hydrogen export costs compared to electricity, and storage systems that stabilize wind energy output. However, significant challenges remain, including the high costs of storage solutions, capital expenditures (CAPEX), and operational costs (OPEX). A Mixed-Integer Linear Programming (MILP) model optimizes the production units, storage, and distribution processes. A case study in southern France examines hydrogen production from a 150 MW floating wind farm. While hydrogen produced from offshore wind ranks among the most environmentally friendly, its costs remain high, and production volumes fall short o... [more]
A Modern Portfolio Theory Approach for Chemical Production with Supply Chain Considerations for Efficient Investment Planning
Mohamad Almoussaoui, Dhabia M. Al-Mohannadi
June 27, 2025 (v1)
Keywords: Investment Decision, Modern Portfolio Theory, Portfolio Selection, Supply Chain
Commodity chemicals and energy supply chains are an essential part of the hydrocarbon industry in several countries. As these supply chains are susceptible to disruptions caused by various risks, the economies of countries that depend on the hydrocarbon sector as a major source of income might be negatively affected. One major risk is the price fluctuations of the resources used in the multiple stages of the supply chains. Investment decisions in this sector aim to secure the investment portfolio's financial returns against the risk of price fluctuations. This work introduces an adaptation of a portfolio optimization technique, the modern portfolio theory (MPT) to the case of commodity chemicals and energy supply chain investments by considering all supply chain stages in formulating the MPT framework. A case study considering four chemical commodities and three potential importing countries is presented with a sensitivity analysis that studies the impact of changing the costs associat... [more]
A Forest Biomass-to-Hydrogen Supply Chain Mathematical Model for Optimizing Carbon Emissions and Economic Metrics
Frank Piedra-Jimenez, Rishabh Mehta, Valeria Larnaudie, Maria Analia Rodriguez, Ana Inés Torres
June 27, 2025 (v1)
Subject: Environment
This study introduces a mathematical programming approach to optimize biomass-to-hydrocarbon supply chain design and planning, aiming to balance economic and environmental outcomes. The model incorporates a range of residual biomass types from forestry, sawmills, and the pulp and paper industry, with the option to establish various processing facilities and technologies over a multi-period planning horizon. The analysis involves selecting forest areas, identifying biomass sources, and determining the optimal locations, technologies, and capacities for facilities converting wood-based residues into methanol and pyrolysis oil, which can be further refined into biodiesel and drop-in fuels. Using Life Cycle Assessment (LCA) in a gate-to-gate analysis, forest supply chain carbon emissions are estimated and integrated into the optimization model, extending previous research. A multi-objective framework is employed to minimize CO2-equivalent emissions while minimizing present costs, with effi... [more]
Methods for Efficient Solutions of Spatially Explicit Biofuels Supply Chain Models - Supplementary Material
Phuc Tran, Eric O'Neill, Christos Maravelias
January 31, 2025 (v1)
Keywords: Biofuels, Computation Performance, Energy and Sustainability, Optimization, Solution Quality, Supply Chain
The growing size and complexity of energy system optimization models, driven by high-resolution spatial data, pose significant computational challenges. This study introduces methods to reduce model’s size and improve computational efficiency while preserving solution accuracy. First, a composite-curve-based approach is proposed to aggregate granular data into larger resolutions without averaging out specific properties. Second, a general clustering method groups geographically proximate fields, replacing multiple transportation arcs with a single arc to reduce transportation-related variables. Lastly, a two-step algorithm that decomposes the sup-ply chain design problems into two smaller, more manageable subproblems is introduced. These methods are applied to a case study of switchgrass-to-biofuels network design in eight U.S. Midwest states, demonstrating their effectiveness with realistic and detailed spatial data.
Sustainable Process Systems Engineering - You're Doing It Wrong!
Raymond L. Smith
August 16, 2024 (v2)
Most studies in process systems engineering are applying incomplete methods when incorporating sustainability. Including sustainability is a laudable goal, and practitioners are encouraged to develop systems that promote economic, environmental, and social aspects. Ten methods that are often overlooked in performing sustainable process systems engineering are listed in this effort and discussed in detail. Practitioners are encouraged to create designs that are inherently safer, to be more complete in their identification of process chemicals used and released, to be complete in their definitions of supply chains, and to apply additional environmental impact categories. Other methods point to items that are factors in process systems engineering such as disruptive recycling, robust superstructures for optimizations, and employing complete sets of objectives. Finally, users should be aware that sustainability tools are available, which might have been outside of their awareness.
Deciphering the Policy-Technology Nexus: Enabling Effective and Transparent Carbon Capture Utilization and Storage Supply Chains
Manar Y. Oqbi, Dhabia M. Al-Mohannadi
August 16, 2024 (v2)
Subject: Energy Policy
Keywords: Blockchain, Carbon Capture, Carbon Capture Utilization and Storage CCUS, Carbon Dioxide, Carbon Dioxide Sequestration, Carbon Reduction Policies, Carbon Tax, digitalization, Optimization, Supply Chain
In response to the global imperative to address climate change, this research focuses on enhancing the transparency and efficiency of the Carbon Capture Utilization and Storage (CCUS) supply chain under carbon tax. We propose a decision-making framework that integrates the CCUS supply chain's optimization model, emphasizing carbon tax policies, with a blockchain network. Smart contracts play a pivotal role in automating the exchange and utilization of carbon emissions, enhancing the digitalization of the CCUS supply chain from source to sink. This automation facilitates seamless matching of carbon sources with sinks, efficient transfer of emissions and funds besides record-keeping of transactions. Consequently, it improves the monitoring, reporting, and verification processes within the CCUS framework, thereby simplifying compliance with regulatory mandates for net emission reductions and carbon taxation policies. By eliminating reliance on third-party verifiers, our blockchain-based... [more]
Optimal Design of Food Packaging Considering Waste Management Technologies to Achieve Circular Economy
Paola A. Munoz-Briones, Aurora del C. Munguía-López, Kevin L. Sánchez-Rivera, Victor M. Zavala, George W. Huber, Styliani Avraamidou
August 16, 2024 (v2)
Subject: Environment
Plastic packaging plays a fundamental role in the food industry, avoiding food waste and facilitating food access. The increasing plastic production and the lack of appropriate plastic waste management technologies represent a threat to the environmental and human welfare. Therefore, there is an urgent need to identify sustainable packaging solutions. Circular economy (CE) promotes reducing waste and increasing recycling practices to achieve sustainability. In this work, we propose a CE framework based on multi-objective optimization, considering both economic and environmental impacts, to identify optimal packaging designs and waste management technologies. Using mixed-integer linear programming (MILP), techno-economic analysis (TEA), and life cycle assessment (LCA), this work aims to build the first steps in packaging design, informing about the best packaging alternatives and the optimal technology or technologies to process packaging waste. For the economic analysis, we consider th... [more]
Resource Integration Across Processing Clusters: Designing a Cluster of Clusters
Mohammad Lameh, Dhabia Al-Mohannadi, Patrick Linke
August 16, 2024 (v2)
Subject: Environment
Achieving worldwide sustainable development is a practical challenge that demands an efficient management of resources across their entire value chains. This practical task requires the optimal selection of pathways for extracting, processing, and transporting resources to meet the demands in different geographic regions at minimal economic cost and environmental impact. This work addresses the challenge by proposing a systematic framework for designing resource-processing networks that can be applied to resource management problems. The framework considers the integration and resource exchange within and across multiple processing clusters. It allows for the life cycle assessment of the environmental and economic impacts of the defined value chains, and design accordingly the different processing and transport systems from extraction to final use. The proposed representation and optimization model are demonstrated in a case study to assess the impact of energy transition under decarbo... [more]
Industrial Biosolids from Waste to Energy: Development of Robust Model for Optimal Conversion Route - Case Study
Evan D. Erickson, Jiaze Ma, Philip Tominac, Horacio Aguirre-Villegas, Victor M. Zavala
August 16, 2024 (v2)
Keywords: Interdisciplinary, Modelling, Optimization, Polymers, Supply Chain
Modern mechanical recycling infrastructure for plastic is capable of processing only a small subset of waste plastics, reinforcing the need for parallel disposal methods such as landfilling and incineration. Emerging pyrolysis-based chemical technologies can “upcycle” plastic waste into high-value polymer and chemical products and process a broader range of waste plastics. In this work, we study the economic and environmental benefits of deploying an upcycling infrastructure in the continental United States for producing low-density polyethylene (LDPE) and polypropylene (PP) from post-consumer mixed plastic waste. Our analysis aims to determine the market size that the infrastructure can create, the degree of circularity that it can achieve, the prices for waste and derived products it can propagate, and the environmental benefits of diverting plastic waste from landfill and incineration facilities it can produce. We apply a computational framework that integrates techno-economic analy... [more]
Opportunities for Process Intensification with Membranes to Promote Circular Economy Development for Critical Minerals
Molly Dougher, Laurianne Lair, Jonathan Aubuchon Ouimet, William A. Phillip, Thomas J. Tarka, Alexander W. Dowling
August 16, 2024 (v2)
Critical minerals are essential to the future of clean energy, especially energy storage, electric vehicles, and advanced electronics. In this paper, we argue that process systems engineering (PSE) paradigms provide essential frameworks for enhancing the sustainability and efficiency of critical mineral processing pathways. As a concrete example, we review challenges and opportunities across material-to-infrastructure scales for process intensification (PI) with membranes. Within critical mineral processing, there is a need to reduce environmental impact, especially concerning chemical reagent usage. Feed concentrations and product demand variability require flexible, intensified processes. Further, unique feedstocks require unique processes (i.e., no one-size-fits-all recycling or refining system exists). Membrane materials span a vast design space that allows significant optimization. Therefore, there is a need to rapidly identify the best opportunities for membrane implementation, t... [more]
Resilient-aware Design for Sustainable Energy Systems
Natasha J. Chrisandina, Shivam Vedant, Catherine Nkoutche, Eleftherios Iakovou, Efstratios N. Pistikopoulos, Mahmoud M. El-Halwagi
August 16, 2024 (v2)
Keywords: Energy Systems, Multiscale Modelling, Planning & Scheduling, Renewable and Sustainable Energy, Supply Chain
To mitigate the effects of catastrophic failure while maintaining resource and production efficiencies, energy systems need to be designed for resilience and sustainability. Conventional approaches such as redundancies through backup processes or inventory stockpiles demand high capital investment and resource allocation. In addition, responding to unexpected “black swan” events requires that systems have the agility to transform and adapt rapidly. To develop targeted solutions that protect the system efficiently, the supply chain network needs to be considered as an integrated multi-scale system incorporating every component from individual process units all the way to the whole network. This approach can be readily integrated with analogous multiscale approaches for sustainability, safety, and intensification. In this work, we bring together classical supply chain resilience with process systems engineering to leverage the multi-scale nature of energy systems for developing resilienc... [more]
Designing Better Plastic Management Processes Through a Systems Approach
John D. Chea, Matthew Conway, Gerardo J. Ruiz-Mercado, Pahola Thathiana Benavides, Kirti M. Yenkie
August 16, 2024 (v2)
Plastics are widely used for their affordability and versatility across many consumer and industrial applications. However, the end-of-life (EoL) management stage can often lead to releasing hazardous chemical additives and degradation products into the environment. The increasing demand for plastics is expected to increase the frequency of material releases throughout the plastic EoL management activities, creating a challenge for policymakers, including ensuring proper material segregation and disposal management and increasing recycling efficiency and material reuse. This research designed a Python-based EoL plastic management tool to support decision-makers in analyzing the holistic impacts of potential plastic waste management policies. The constructed tool was developed to reduce the complexity of material flow analysis calculations, estimating material releases, and environmental impacts. The utility of the tool was tested through the hypothetical nationwide adoption of an exten... [more]
Towards Sustainable Supply Chains for Waste Plastics through Closed-Loop Recycling: A case-study for Georgia
Elisavet Anglou, Riddhi Bhattacharya, Patricia Stathatou, Fani Boukouvala
August 16, 2024 (v2)
Keywords: Optimization, plastics, recycling, Supply Chain, waste management
Sustainable and economically viable plastic recycling methodologies are vital for addressing the increasing environmental consequences of single-use plastics. In this study, we evaluate the plastic waste management value for the state of Georgia, US and investigate the potential of introducing novel depolymerization methods within the network. An equation-based formulation is developed to identify the optimum supply-chain design given the geographic location of existing facilities. Chemical recycling technologies that have received increasing attention are evaluated as candidate technologies to be integrated within the network. The optimum supply-chain design is selected based on environmental and economic objectives. The designed network of pathways uses a mix of different technologies (chemical and mechanical recycling) in a way that are both economically environmentally sound.
Optimal Clustered, Multi-modal CO2 Transport Considering Non-linear Costs - a Path-planning Approach
Kang Qiu, Sigmund Eggen Holm, Julian Straus, Simon Roussanaly
August 16, 2024 (v2)
An important measure to achieve global reduction in CO2 emissions is CO2 capture, transport, and storage. The deployment of CO2 capture requires the development of a shared CO2 transport infrastructure, where CO2 can be transported with different transport modes. Furthermore, the cost of CO2 transport can be subject to significant economies of scale effects with respect to the amount of CO2 transported, also mentioned as clustering effects. Therefore, optimizing the shared infrastructure of multiple CO2 sources can lead to significant reductions in infrastructure costs. This paper presents a novel formulation of the clustered CO2 transport network. The Markov Decision Process formulation defined here allows for more detailed modeling of non-linear, discrete transport costs and increased geographical resolution. The clustering effects are modeled through cooperative multi-agent interactions. A multi-agent, reinforcement learning-based algorithm is proposed to optimize the shared transpo... [more]
Process and Network Design for Sustainable Hydrogen Economy
Monzure-Khoda Kazi, Akhilesh Gandhi, M.M. Faruque Hasan
August 16, 2024 (v2)
Keywords: Energy Management, Hydrogen, Network Design, Optimization, Renewable and Sustainable Energy, Supply Chain
This study presents a comprehensive approach to optimizing hydrogen supply chain network (HSCN), focusing initially on Texas, with potential scalability to national and global regions. Utilizing mixed-integer nonlinear programming (MINLP), the research decomposes into two distinct modeling stages: broad supply chain modeling and detailed hub-specific analysis. The first stage identifies optimal hydrogen hub locations, considering county-level hydrogen demand, renewable energy availability, and grid capacity. It determines the number and placement of hubs, county participation within these hubs, and the optimal sites for hydrogen production plants. The second stage delves into each selected hub, analyzing energy mixes under variable solar, wind, and grid profiles, sizing specific production and storage facilities, and scheduling to match energy availability. Iterative refinement incorporates detailed insights back into the broader model, updating costs and configurations to converge upo... [more]
Towards 3-fold sustainability in biopharmaceutical process development and product distribution
Miriam Sarkis, Steven Sachio, Nilay Shah, Cleo Kontoravdi, Maria M. Papathanasiou
August 15, 2024 (v2)
Keywords: Biosystems, Dynamic Modelling, Industry 40, Machine Learning, Process Design, Renewable and Sustainable Energy, Supply Chain
The (bio-)pharmaceutical industry is facing crossroads in an effort to ramp up its global capacity, while working to meet net-zero targets and to ensure continuous drug supply. Beyond geopolitical challenges faced worldwide, (bio-)pharmaceutical processes have been historically very complex to design, optimise and integrate in a global distribution network that is resilient and adaptable to changes. In this paper we offer a perspective of how Process Systems Engineering (PSE) tools can support and advance (bio-)pharma practices with an outlook towards 3-fold sustainability. The latter is considering three main pillars, namely social (drug supply), economical and environmental sustainability. We discuss PSE contributions that have revolutionised process design in this space, as well as the optimisation of distributions networks in pharmaceuticals. We do this by means of example cases: one on model-based unit operation design and a second one on sustainable supply chain networks in the... [more]
Life Cycle and Sustainability Analyses for Designing Chemical Circular Economy
David Perez, John D. Chea, Jose D. Hernandez-Betancur, Gerardo J. Ruiz-Mercado
August 15, 2024 (v2)
Subject: Environment
Sustainability and circular economy enclose initiatives to achieve economic systems and industrial value chains by improving resource use, productivity, reuse, recycling, pollution prevention, and minimizing disposed material. However, shifting from the traditional linear economic production system to a circular economy is challenging. One of the most significant hurdles is the absence of sustainable end-of-life (EoL)/manufacturing loops for recycling and recovering material while minimizing negative impacts on human health and the environment. Overcoming these challenges is critical in returning materials to upstream life cycle stage facilities such as manufacturing. Chemical flow analysis (CFA), sustainability evaluation, and process systems engineering (PSE) can supply chemical products and processes performances from environmental, economic, material efficiency, energy footprint, and technology perspectives. These holistic evaluation techniques can improve productivity, source mate... [more]
Green Supply Chain Circular Economy Evaluation System Based on Industrial Internet of Things and Blockchain Technology under ESG Concept
Cheng Qian, Yuying Gao, Lifeng Chen
August 3, 2023 (v1)
Keywords: economy evaluation, ESG performance, green blockchain, industrial internet of things, Supply Chain
A green supply chain economy considering environmental, social, and governance (ESG) factors improves the chances of functional growth through minimal risk factors. The implication of sophisticated technologies such as the Industrial Internet of Things (IIoT) and the blockchain improves the optimization and evaluation of ESG performance. An IIoT-Blockchain-based Supply Chain Economy Evaluation (IB-SCEE) model is introduced to identify and reduce functional growth risk factors. The proposed model uses green blockchain technology to identify distinct transactions’ economic demands and supply distribution. The flaws and demands in the circular economy process are validated using the IIoT forecast systems relying on ESG convenience. The minimal and maximum risks are identified based on economic and distribution outcomes. The present investigation highlights the significance of ongoing ESG-conceptualized research into blockchain-based supply chain economics. Companies who recognize the bloc... [more]
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