| Title |
Facilitating Real-time Information Sharing in Construction Supply Chain Management |
| Keywords |
Construction Supply Chain Management ; Option Theory ; Computer Agents ; Negotiation |
| Abstract |
The supply chain can significantly affect a construction project based on its ability to deliver construction products in a timely manner. The success of a supply chain depends on its ability to share, intercept, and respond to information flows as well as the clarity and speed of it. However, the benefit of information sharing typically lies only in the recipient of shared information, which in turn, makes the members of a construction supply chain discourage information sharing. This research proposes an incentive scheme to entice all project members to share critical iformation using an option theoretic approach. Based on this framework, a prototype system for an agent-based negotiation methodology is presented. The result of applying this scheme to a real project in US shows that the proposed approach can provide a Win-Win strategy for construction supply chain management, where real-time information sharing leads to apportioning benefits to project participants in the form of risk mitigation and operational improvement. |