What is Servitization

1.

A process of shifting from product-centric logic to service-centric logic by providing bundles of products and services in order to create value for customers. Learn more in: The Development of Servitization Concept in the Era of Industry 4.0 Through SCM Perspective

2.

The process of digitizing an artifact, creating a digital representation that could be provided as a service to other software or platforms. Learn more in: An IoE Architecture for the Preservation of the Cultural Heritage: The STORM Use Case

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Servitization is commonly taken to be a transition or transformation which is largely characterised as a linear and gradual move along a product continuum from less to more sophisticated services. Learn more in: Operationalization of Circular Economy: A Conceptual Model

4.

A shift of firms, mainly manufacturers, from selling products to selling customer solutions coupled with their existing products. Learn more in: Enablers of Servitization Roles and Action Mechanism

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Transformation of manufacturing firms that offer bundles of services together with their products, the increasing use of technologies to connect people, systems and services offers several opportunities for manufacturers. Learn more in: Co-Creating Digital Transformation

6.

Process of building revenue streams for manufacturers from services. Learn more in: The Fourth Revolution: Strategies to Manage Artificial Intelligence to Transform Economy and Society for the Digital Age

7.

Digitally supported service. Learn more in: Digitalization Strategies in the New World Order: A Conceptual Study to Understand Digitalization Strategies

8.

More radical change of a business model that includes the introduction of a new service for customers. In the manufacturing industry, products are joined with the accompanied digital platform providing a new value for the customers. Also known as service orientation. Learn more in: Fostering Innovation and Value Creation Through Ecosystems: Case of Digital Business Models and Digital Platforms