Creating value and business benefits from joint offerings in the capital-intensive industries

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Abstract

In capital intensive industries, the purchasing of IoT, predictive maintenance or other digital solutions is very complex as there already exists several separate legacy systems. Also for a single solution provider, the customer needs and expectations can be huge, and they might not have all resources or competences needed for the delivery. In our research, we examined various aspects related to joint offering development and value creation. We define the joint offering as a concept or solution that is co-created in collaboration with two or more actors that usually have complementary technological skills or value creation logics. Based on our study, there is still relatively little joint offerings deployed support-ing asset performance management and execution of asset management opera-tions. To discover the interaction between the actors able to provide a joint-solution, we further sketched value network models from the anonymised indus-trial challenges. Finally, the developed conceptual framework clarifies the scene of both the business opportunities and value assessment. The first part of the framework, business opportunities, considers the business models, value net-works and analysis of business opportunities and risks. The later part, business value assessment, is built on capital and operating expenditure and revenues summarising the business value.
Original languageEnglish
Title of host publicationProceedings of the 15th World Congress on Engineering Asset Management
PublisherSpringer
Publication statusAccepted/In press - 25 Aug 2021
MoE publication typeA4 Article in a conference publication
Event15th World Congress on Engineering Asset Management, WCEAM 2021 - Virtual, Brazil
Duration: 15 Aug 202118 Aug 2021

Conference

Conference15th World Congress on Engineering Asset Management, WCEAM 2021
Country/TerritoryBrazil
Period15/08/2118/08/21

Keywords

  • joint offering
  • value co-creation
  • business value

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