An Economic Events Network

An example of value derived within an economic events network would be collaboration in a feed manufacturer’s supply chain. An entry from a sales agent’s PDA of a requested feed formulation, while in the field, could sync with a Community of Practice within the Feed Manufacturer’s Collaboration Management System. Knowledgeable participants in such a system could share engineering knowledge, raw materials availability, manufacturing capability, inventory, shipping and invoicing logistics while engaged in economic events. All can be coordinated via established Business Collaboration Protocols in a manner that maintains individual accountability. Such a system can be modeled around REA Logistics as follows:

In the feed manufacturer’s supply chain scenario, the Community of Practice would consist of members with roles and accountability, bonded within an REA framework. An REA framework can define economic relationships assigning roles and accountability thus empowering the right people with authority to approve specific economic event requests. Business Collaboration Protocols are managed by the Community of Support which assists in knowledge acquisition, knowledge transfer and information access. The Collaboration Management System (CMS) then enables economic event transactions that will occur as time stamped (audit trail) interactivity. Technology required for such a system is illustrated on the following page.