Methodology for monitoring and managing the abnormal situation (event) in non-hierarchical business network

Abstract: Because of substantial impact, potential and value, business collaborations are nowadays turning to be an important issue of contemporary business management. Although business network supports competitive advantages however, it often becomes difficult to manage the integration of the operational processes. During the operational processes there might evolve unexpected situations or events within the network boundary. These events create various obstacles to run the business collaboration smoothly. Monitoring and managing of such abnormal situations create huge challenges for the collaborative firms in respect to production processes. The main objective of event monitoring and management (EMM) is to provide warning and managing any uneven situations that might cause serious damage for the firms. The research presented in this article provides the fundamental concept of EMM that are common in any industrial establishment. A case example is also highlighted within the scope of this paper with the view to demonstrate the ICT-based EMM process, applicable in a non-hierarchical business network. <RV>