A product line has been developed with minimal investments in technology, competitive on the market in the region and beyond. Several customers were already found during development, and the plan is to optimize production and expand business.
Category: New Product Development
The shift in manufacturing: Servitization
Some trends exceed the boundaries of particular industry sectors and even go beyond the private and business realm. They are a reflection of the time we live in and tightly related to technological advancements. One of them is the shift from ownership to access, or from product-based business models to services and solution providers.
Challenges of moving to service-based manufacturing
Digital technologies have enabled the traditional industries to shift from product makers to service-providers. Integration of products with personalized services and a customer-focused approach are driving the changes in business models, even in traditional manufacturing. But no change comes easy.