Are you transforming your product into service?
Servitization is more important than ever in the Nordic manufacturing industry. Driven by changed customer requirements, new technology usage, higher degree of digitalization and IoT, the traditional product is not enough to guarantee a market position today. It is about creating new business models and having speed in the market providing solutions that satisfies the new customer requirements. Service in manufacturing firms has transformed from being a cost item into an opportunity generating additional revenue for both large manufacturers and SMEs.
This newsletter is about using the potential of servitization and how to reach the full potential of service and solution strategies. There are four common categories indicating what level of service provider you are; Basis of product related services, Extended product related services, Business services, and Output services, and the newsletter imply what to think of making a transition between the categories.
The newsletter also includes discussions around new type of ownership structure and the importance of well-established contract management, that arise with service based business models. Many companies choose to engage in partnerships, for example with the customer as a part of the product delivery, or with a supplier to develop new technology.
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