Creating Value and Business Benefits from Joint Offerings of Asset Performance Management Tools in the Capital-Intensive Industries

Minna Räikkönen (Corresponding author), Leila Saari, Katri Valkokari, Antti Rantala, Helena Kortelainen

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

1 Citation (Scopus)
3 Downloads (Pure)

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 supporting asset performance management and execution of asset management operations. To discover the interaction between the actors able to provide a joint-solution, we further sketched value network models from the anonymised industrial 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 networks 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 publication15th WCEAM Proceedings
EditorsJoão Onofre Pinto, Marcio Luiz Kimpara, Renata Rezende Reis, Turuna Seecharan, Belle R. Upadhyaya, Joe Amadi-Echendu
PublisherSpringer
Pages126–136
ISBN (Electronic)978-3-030-96794-9
ISBN (Print)978-3-030-96793-2
DOIs
Publication statusPublished - 28 Mar 2022
MoE publication typeA4 Article in a conference publication
Event15th World Congress on Engineering Asset Management, WCEAM 2021: Online - Virtual, Bonito, Mato Grosso do Sul, Brazil
Duration: 15 Aug 202118 Aug 2021

Publication series

SeriesLecture Notes in Mechanical Engineering
ISSN2195-4356

Conference

Conference15th World Congress on Engineering Asset Management, WCEAM 2021
Country/TerritoryBrazil
CityBonito, Mato Grosso do Sul
Period15/08/2118/08/21

Keywords

  • joint offering
  • value co-creation
  • business value
  • asset performance management
  • joint offering development

Fingerprint

Dive into the research topics of 'Creating Value and Business Benefits from Joint Offerings of Asset Performance Management Tools in the Capital-Intensive Industries'. Together they form a unique fingerprint.

Cite this