Servitization is a hot topic for manufacturers as they take on the Industry 4.0 challenge, but once you get past the hype, what does ‘servitization’ really mean? Richard Fernandes reports.
In simple terms, servitization offers the opportunity to create new business models while building meaningful and long-lasting customer relationships. Richard Fernandes, director of Aerospace, Atos. Recent well-publicised examples include John Deere’s ‘Agricultural Outcomes’ and Rolls-Royce’s ‘Power by the Hour’ business models. Sensing the change At the heart of servitization is the…
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