Tapping the value potential of extended asset services: experiences from Finnish companies

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-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
    Title of host publicationProceedings of MPMM
    Subtitle of host publication6th International Conference on Maintenance Performance Measurement and Management
    PublisherLuleå University of Technology
    Pages170-176
    ISBN (Print)978-91-7583-841-0
    Publication statusPublished - 2016
    MoE publication typeA4 Article in a conference publication
    EventMaintenance Performance Measurement and Management Conference - Luleå Tekniska Universitet, Luleå, Sweden
    Duration: 28 Nov 201628 Nov 2016

    Conference

    ConferenceMaintenance Performance Measurement and Management Conference
    Abbreviated titleMPMM
    CountrySweden
    CityLuleå
    Period28/11/1628/11/16

    Fingerprint

    Assets
    Service experience
    Manufacturing companies
    Life cycle
    New services
    Service delivery
    Business model
    Total cost of ownership
    Service development
    Condition monitoring
    Development plans
    Stakeholders

    Keywords

    • asset
    • fleet
    • extended asset services

    Cite this

    Kortelainen, H., Hanski, J., Valkokari, P., & Ahonen, T. (2016). Tapping the value potential of extended asset services: experiences from Finnish companies. In Proceedings of MPMM: 6th International Conference on Maintenance Performance Measurement and Management (pp. 170-176). Luleå University of Technology.
    Kortelainen, Helena ; Hanski, Jyri ; Valkokari, Pasi ; Ahonen, Toni. / Tapping the value potential of extended asset services : experiences from Finnish companies. Proceedings of MPMM: 6th International Conference on Maintenance Performance Measurement and Management. Luleå University of Technology, 2016. pp. 170-176
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    title = "Tapping the value potential of extended asset services: experiences from Finnish companies",
    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.",
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    Kortelainen, H, Hanski, J, Valkokari, P & Ahonen, T 2016, Tapping the value potential of extended asset services: experiences from Finnish companies. in Proceedings of MPMM: 6th International Conference on Maintenance Performance Measurement and Management. Luleå University of Technology, pp. 170-176, Maintenance Performance Measurement and Management Conference, Luleå, Sweden, 28/11/16.

    Tapping the value potential of extended asset services : experiences from Finnish companies. / Kortelainen, Helena; Hanski, Jyri; Valkokari, Pasi; Ahonen, Toni.

    Proceedings of MPMM: 6th International Conference on Maintenance Performance Measurement and Management. Luleå University of Technology, 2016. p. 170-176.

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

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    AB - 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.

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    Kortelainen H, Hanski J, Valkokari P, Ahonen T. Tapping the value potential of extended asset services: experiences from Finnish companies. In Proceedings of MPMM: 6th International Conference on Maintenance Performance Measurement and Management. Luleå University of Technology. 2016. p. 170-176