Digitalisation is redefining the relationship between OEMs and their customers by transforming industrial machines from standalone hardware into software-enabled, intelligent machines operating within an integrated and connected digital ecosystem.
Embracing a service-based approach has been a priority for many manufacturers this year, as it can boost and/or open new revenue streams and help strengthen customer relationships. Here are The Manufacturer’s top servitization stories of the year!
If you’re a large or midsized manufacturer, chances are you’re already piloting new digital manufacturing technologies. As productivity pressure piles up and new solutions become available, it can be hard to know where to best focus your efforts.
The term “the experience economy” was coined in the 1990s to describe how customer experiences would become the main competitive battleground for companies. Today, we find ourselves in the middle of this new economy. In order to survive, companies now need to focus on “experience innovation” and increase their customers’ involvement in their innovation process.
Over the past few years there has been an increased emphasis on digitalisation across all industry sectors, with manufacturing featuring predominately under the banner of ‘Industry 4.0’. Dr Peter Colman and Nouran Ezzat discuss revenue generating opportunities for manufacturers.
Eight out of 10 manufacturers believe using technologies to servitize their company will help broaden their customer base. But, if your business has never offered a service-based approach before, how can servitization be introduced?