Adding services to your product offerings in a process known as servitization can access a greater share of the total lifecycle expenditure on what you make.
These five tips from The Manufacturer help guide manufacturers through the process of profiting from services as part of supporting their products in the field.
Servitized companies can offer:
+ equipment-focused product life cycle offerings (including maintenance services),
+ asset-focused managed services (more complex than a single piece of equipment and often involving different pieces of equipment purchased at different points in time), and
+ process focused advisory services (consulting to other firms on how to migrate all the way to a servitized model).
The tips explain field service management software and systems, smart devices and new business models to drive servitization.
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