Platform Business Model for Intelligent Supply Chain Operations

ABSTRACT Platform economy involves technology to connect the dispersed network of participants. The Platform Business Model denotes a triangular participation between; the platform itself, the supplier and the consumer. The global market is witnessing a rise of digital platforms with an increase in the power of algorithms and cloud-based computing, connecting millions of participants in the network. The technological advancement makes the digital platforms a formidable force that ushers in change and brings out economic revolution across the globe. Many entrepreneurs have been created by these platforms, the workforces have the freedom to choose their work time and job, leading to an economically vibrant society. Platform businesses exist across various verticals, even in manufacturing setup. A variety of goods can be produced in a flexible assembly line. Hence the concept of outsourcing may require new definition from low-cost labour-based countries to high technology low-cost countries. There may be a transformation of economies shifting towards service, as major manufacturers may reorient themselves into service operators. Overall, the platform business model would make the entire operation more transparent with real time data transfer between the participants, leading to efficiency across the entire chain of business activities.