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Tapping the Value Potential of Extended Asset Services – Experiences from Finnish Companies

Tapping the Value Potential of Extended Asset Services – Experiences from Finnish Companies AbstractRecent developments in information technology and business models enable a wide variety of new services for companies looking for growth in services. Currently, manufacturing companies have been actively developing and providing novel asset based services such as condition monitoring and remote control. However, there is still untapped potential in extending the service delivery to the long-term co-operative development of physical assets over the whole lifecycle. Close collaboration with the end-customer and other stakeholders is needed in order to understand the value generation options. In this paper, we assess some of the asset services manufacturing companies are currently developing. The descriptions of the asset services are based on the results of an industrial workshop in which the companies presented their service development plans. The service propositions are compared with the Total Cost of Ownership and the closed loop life cycle frameworks. Based on the comparison, gaps that indicate potential for extended asset service concepts are recognised. In conclusion, we argue that the manufacturing companies do not recognise the whole potential for asset based services and for optimizing the performance of the end customers′ processes. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Systems in Production Engineering de Gruyter

Tapping the Value Potential of Extended Asset Services – Experiences from Finnish Companies

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Publisher
de Gruyter
Copyright
© 2017
eISSN
2450-5781
DOI
10.1515/mspe-2017-0029
Publisher site
See Article on Publisher Site

Abstract

AbstractRecent developments in information technology and business models enable a wide variety of new services for companies looking for growth in services. Currently, manufacturing companies have been actively developing and providing novel asset based services such as condition monitoring and remote control. However, there is still untapped potential in extending the service delivery to the long-term co-operative development of physical assets over the whole lifecycle. Close collaboration with the end-customer and other stakeholders is needed in order to understand the value generation options. In this paper, we assess some of the asset services manufacturing companies are currently developing. The descriptions of the asset services are based on the results of an industrial workshop in which the companies presented their service development plans. The service propositions are compared with the Total Cost of Ownership and the closed loop life cycle frameworks. Based on the comparison, gaps that indicate potential for extended asset service concepts are recognised. In conclusion, we argue that the manufacturing companies do not recognise the whole potential for asset based services and for optimizing the performance of the end customers′ processes.

Journal

Management Systems in Production Engineeringde Gruyter

Published: Sep 26, 2017

References