Servitisation: from products, to profitPosted 20 Jun 2022
Servitisation: from products, to profit
Away from the media and creative industries, servitisation has huge profit potential for sectors like manufacturing. It can involve a transformation of the manufacturer from a business which is focused on building revenues around the production and sale of products, to one where a significant, sustainable revenue stream comes from services that focus on the outcome from the use of its products.
In particular, servitisation could be key to unlocking regional growth, such as in the South West of England and Wales – an area rich in manufacturing sub sectors including aerospace and defence. That said, uptake in the UK is not as widespread as it could be, meaning viable opportunities to accelerate economic growth are not being grasped.
This new report, produced for DETI – an R&D initiative in the West of England to supercharge digital skills – explores the business case for servitisation to UK industry, as well as the current challenges preventing manufacturers from reaping the benefits.
DETI is a research, innovation and skills initiative to develop and accelerate digital engineering across multiple sectors for future generations…
The Made Smarter Servitisation demonstrator enables companies to identify the key digital components that can bring a servitisation business model…