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Digital Solutions in the Forest-Based Bioeconomy

In: Elements of Bioeconomy

Author

Listed:
  • Chihiro Watanabe
  • Nasir Naveed

Abstract

This chapter aims to illustrate the potential and significance of forest-based industry to take the lead in the sustainable development of the bio-based economy under digitalization. The digital solutions are transforming the forest-based industry by enabling the real-time end-to-end supply chain visibility, stock level optimization, demand planning, and real-time order status tracking and transparent, speedy, and hassle-free order fulfillment. In addition, increasing diversification corresponds to eco-consciousness, and shift in people's preferences induces the transformation of forest-based bioeconomy into a digital platform industry. Further, this chapter will highlight the circular economy way of thinking that offers the possibility for the use of material to a more efficient level along with creating new, sustainable business models for many industries. The future of many industries lies in cross-industrial collaboration and creation of new value network based on circular economy as in the industrial ecosystems; the side streams generated in the production of one firm may be the input raw material for others. Based on all of these developments, transformation of forest-based bioeconomy into a digital platform industry can be expected.

Suggested Citation

  • Chihiro Watanabe & Nasir Naveed, 2019. "Digital Solutions in the Forest-Based Bioeconomy," Chapters, in: Krzysztof Biernat (ed.), Elements of Bioeconomy, IntechOpen.
    • Handle: RePEc:ito:pchaps:183039
    DOI: 10.5772/intechopen.84828
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    Citations

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    Cited by:

    1. Weiss, Gerhard & Hansen, Eric & Ludvig, Alice & Nybakk, Erlend & Toppinen, Anne, 2021. "Innovation governance in the forest sector: Reviewing concepts, trends and gaps," Forest Policy and Economics, Elsevier, vol. 130(C).
    2. Holopainen, Jani & Mattila, Osmo & Pöyry, Essi & Parvinen, Petri, 2020. "Applying design science research methodology in the development of virtual reality forest management services," Forest Policy and Economics, Elsevier, vol. 116(C).

    More about this item

    Keywords

    forest-based bioeconomy; transformation; digital solutions; creative disruption platform; circular economy;
    All these keywords.

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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