Servitization and its impact on Business Models and Enterprise packages
Was going through some interesting articles on "Servitization", a captivating concept I must say. So what is servitization? Manufacturing industries have been selling products - components or end items as their main offering along with supplementary services such as After Sales...etc. Servitization refers to these organizations packaging their offerings of which services form an integral portion. The main focus is on service required by the consumer rather than the product itself. Let's take an example of a business customer requiring a Coolant to be delivered at specific pressure and temperature within their premise, Servitization here will bring forth the focus of the Manufacturer to provide the exact services required rather than selling coolants, pressure and temperature gauges.