What do local smaller manufacturing companies look like and what problems do they face? Many owners have gone through a difficult journey to reach a certain level of production and number of customers. They are now at a turning point, which can be followed by further growth, stabilization or decline.
Category: Manufacturing 4.0
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.