Tapping the Value Potential of Extended Asset Services: Experiences from Finnish Companies

    Research output: Contribution to journalArticleScientificpeer-review

    Abstract

    Recent developments in information technology and business models enable a wide variety of new services for companies looking for growth in services. Currently, manufacturing companies have been actively developing and providing novel asset based services such as condition monitoring and remote control. However, there is still untapped potential in extending the service delivery to the long-term co-operative development of physical assets over the whole lifecycle. Close collaboration with the end-customer and other stakeholders is needed in order to understand the value generation options. In this paper, we assess some of the asset services manufacturing companies are currently developing. The descriptions of the asset services are based on the results of an industrial workshop in which the companies presented their service development plans. The service propositions are compared with the Total Cost of Ownership and the closed loop life cycle frameworks. Based on the comparison, gaps that indicate potential for extended asset service concepts are recognised. In conclusion, we argue that the manufacturing companies do not recognise the whole potential for asset based services and for optimizing the performance of the end customers' processes.
    Original languageEnglish
    Pages (from-to)199-204
    JournalManagement Systems in Production Engineering
    Volume25
    Issue number3
    DOIs
    Publication statusPublished - 2017
    MoE publication typeA1 Journal article-refereed

    Keywords

    • asset
    • fleet
    • extended asset services

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  • Projects

    S4FLEET: Service Solutions for Fleet Management

    Kortelainen, H. & Töytäri, P.

    1/01/1531/12/17

    Project: Research

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