09/2016 Working Paper

Grum, Marcus | Dehnert, Maik | Vollmer, Frederick | Mingxian, Zhao

The Conception of a Cyber-Physical Market Model as Coordination Instrument for Production Systems

Abstract

As traditional production components are considered as cyber- physical systems (CPS), they become intelligent and decide for themselves. Interacting within a cyber-physical production system (CPPS), each is following individual objectives and a coordination framework for the entire production context is needed w.r.t. the company’s global objectives. In accordance to real market applications, the following project introduces a concept for a cyber- physical market (CPM). This considers each CPS as market participant having an individual demand and supply such that well known market mechanisms serve to coordinate and optimize the entire CPPS.

Category Working Paper
Authors Grum, Marcus; Dehnert, Maik; Vollmer, Frederick; Mingxian, Zhao
Date 09/2016
Keywords cyber-physical production system, market mechanism, coordination framework
BibTex @techreport{techreport,author = {Grum, Marcus and Dehnert, Maik and Vollmer, Frederick and Mingxian, Zhao}, title = {The Conception of a Cyber-Physical Market Model as Coordination Instrument for Production Systems}, institution = {Working paper Chair of Business Informatics, Processes and Systems}, number = {WI 2016-02}, year = {2016}, month = {9}, keywords = {cyber-physical production system, market mechanism, coordination framework}}