Method for quantifying the value of information for production control in cross-company value-adding networks

Abstract

The advancing digitalisation of production processes increases data availability and enables real-time information sharing between value-adding partners. However, despite the technological feasibility, information relevant for production control to initiate target-oriented countermeasures against disturbances are rarely shared with value-adding partners. To create incentives for companies to exchange information for short-term production control, the respective values of information must be determined. This publication presents a method for quantifying the value of information for production control in cross-company value-adding networks on a monetary basis. The input for the required performance measurement system is derived from a simulation model of the production system. Applying the approach to a simulative scenario validates the method’s functionality and the potential of information sharing to reduce disturbance cost.