Are you a manufacturer that has yet to derive value from servitization?

by   |    |   3 minutes  |  in Business Technology, Creativity & Innovation, Manufacturing, Strategy

Businesses looking to differentiate themselves in the industrial manufacturing industry should consider combining traditional products with new services (servitization). By learning how to derive value from servitization, manufacturers can rise above the competition. Manufacturers today live in a very competitive, price sensitive and crowded world. Today’s companies that operate in developed economies can no longer…

Read more

3 steps to creating a connected customer experience for service success

by   |    |   4 minutes  |  in Business Technology, Research, Service Management, Strategy

We as customers have become accustomed to instant gratification, thanks to uber-connectivity. Have you ever ordered something from Amazon and been frustrated if your items can’t be guaranteed to arrive the next day? Or perhaps you abandoned an action on your mobile device because it wasn’t quick or easy enough? This is the beast that…

Read more

Redefining products in the commercial aviation space: the next generation of “Power-by-the-Hour”

by   |    |   3 minutes  |  in Aviation & Defense, Business Technology, Digital Transformation, Research, Service Management, Strategy

The fundamental shift from selling products to guaranteed outcomes has been aided by exponential technological growth over the last ten years. The concept of “Power-by-the-Hour” was invented by Rolls-Royce in 1962, which means it has been in play in the commercial aviation industry for more than 50 years. This program has reshaped the relationship between…

Read more

2018 automotive industry trends

by   |    |   6 minutes  |  in Automotive, Business Technology, Creativity & Innovation, Research, Strategy

New data-driven services, strong light-weight materials and a rapidly built-out infrastructure for electric vehicles (EVs) are trends impacting the automotive industry this year. Stefan Issing, the Global Industry Director for Automotive at IFS, presents his industry predictions for 2018. Trend #1 Service revenue in the automotive industry will increase by 30% during 2018 When German…

Read more

2018 manufacturing industry trends

by   |    |   7 minutes  |  in Manufacturing, Research, Strategy

The Internet of Things (IoT) being built into the product design, manufacturers adopting a more service-centric business model and 3D printing reaching the tipping point of realizing business benefits on a large scale. These are the three game-changing predictions that Antony Bourne, Global Industry Director of Industrial and High-tech Manufacturing at IFS, outlines for 2018….

Read more

2018 oil and gas industry trends

by   |    |   6 minutes  |  in Business Technology, Creativity & Innovation, Oil & Gas, Research, Strategy

Many oil and gas companies experienced a tough couple of years recently, as oil prices plummeted to record-low levels. The recovery of the industry started in 2017, though, and now is the time to kick it into a higher gear to reap the benefits of being an early mover. New charging models, digital investments and…

Read more

Q&A: Why manufacturers are moving to service-based business models

by   |    |   5 minutes  |  in Business Technology, Manufacturing, Research, Strategy

Expert advice on how manufacturers can provide services and solutions that supplement their traditional product offerings. In this Q&A, I ask our industrial manufacturing industry expert, Antony Bourne, to answer six questions on how manufacturers can benefit from service-based business models. Meet our industrial manufacturing industry expert As the Vice President of Global Industry Sales…

Read more

Servitization in the commercial aviation and defense industry

by   |    |   5 minutes  |  in Aviation & Defense, Digital Transformation, Research, Strategy

How servitization has affected change in the industry and what’s next for businesses. Tim Baines of Aston Business School will tell you that Rolls-Royce was one of the first to do it, with their ingenious “Power by the Hour” program. But what exactly is “it” that they are doing? Probably best known as performance-based logistics…

Read more

Servitization in construction

by   |    |   3 minutes  |  in Construction and Contracting, Digital Transformation, Strategy

Get your business strategy in place to maximize the profit potential of the servitization trend. Servitization is becoming a major trend in product-centric industries where suppliers of products are now moving from simply supplying products to providing services. You see this trend in many industries. Hire and rental contracts are increasing, as are ”power by…

Read more

Why servitization is something your manufacturing business needs to consider

by   |    |   2 minutes  |  in Business Agility, Digital Transformation, Manufacturing, Process Manufacturing, Strategy

You may think that servitization will never apply to your business, but there’s a reason why it’s occurring across many different sub-segments. If you are a manufacturer, then you may have already heard the term “servitization” and ticked it off on your buzzword bingo sheet and moved on with your normal days’ work. If you…

Read more