1. bookVolume 25 (2017): Issue 3 (September 2017)
Journal Details
License
Format
Journal
eISSN
2450-5781
First Published
30 Mar 2017
Publication timeframe
4 times per year
Languages
English
access type Open Access

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

Published Online: 01 Aug 2017
Volume & Issue: Volume 25 (2017) - Issue 3 (September 2017)
Page range: 199 - 204
Received: 01 Oct 2016
Accepted: 01 Apr 2017
Journal Details
License
Format
Journal
eISSN
2450-5781
First Published
30 Mar 2017
Publication timeframe
4 times per year
Languages
English
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.

Keywords

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