Abstract
Supply chain management (SCM) is recognized as one of the best means with ICT by which enterprises can make instant improvements to their business strategies and operations with ICT. This paper gives an overview of the virtual market approach with economic software agents and its applicability to SCM. Focusing on application areas this paper not only considers the theoretical research domain, but also proposes a new business model with a virtual market for SCM in an ICT environment. The paper clarifies that judicious constructions of the decision process, according to economic principles, can lead to an efficient distributed resource allocation in SCM, and also importantly the behavior of the system can be analyzed in economic terms.
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