Is Servitization Manufacturing’s Future? For Many, the Answer Is Yes.
Many manufacturers see “servitization”—the process of moving from a product-centric business model to a bundled product-and-service one—as an inevitable future shift for their organization. What they often have difficulty visualizing, though, is when and how to make that move, and how long they may need to wait before they see a return on their investment from this new strategy.
Servitization, like digitalization (to which it is often related), is a unique and complex journey for any company. In this article, Protiviti’s Sharon Lindstrom describes four questions business leadership should thoroughly consider before embarking on a servitization process.