Reshaping business models for digital era in manufacturing industries supply chains

Digitalization and Internet of Things (IoT) are shaping nowadays the industrial economy and it is said to be a driving force for a fourth industrial revolution. Digitalized and connected products are forcing companies to redefine their business and rethink nearly everything they do. The traditional business functions like product development, IT, manufacturing, logistics, marketing, sales, and after-sales service are being redefined. New kind of innovation and supply chain capabilities are needed in the future, which has major implications for the classic organizational structure of manufacturers and their supply chain collaboration. A successful organization needs diversity amount employees and innovative resource combinations should be created from individual competencies. This study indicates that manufacturers' entire business model should be redefined for being successful and competitive in the future. Study is based on the literature and case study findings. Study defines future key actors, key resources, key activities, value proposition, customer relationships, channels, customer segments, cost structure and revenue streams in the digital era manufacturing, according the business model canvas methodology. Study will develop further the understanding of organizational innovation capabilities, product and process innovations, and new business models especially in context of manufacturing industries supply chains.