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Management science in the era of smart consumer products: challenges and research perspectives

Author

Listed:
  • Herbert Dawid

    (Bielefeld University)

  • Reinhold Decker

    (Bielefeld University)

  • Thomas Hermann

    (Bielefeld University)

  • Hermann Jahnke

    (Bielefeld University)

  • Wilhelm Klat

    (Bielefeld University)

  • Rolf König

    (Bielefeld University)

  • Christian Stummer

    (Bielefeld University)

Abstract

Smart products not only provide novel functionalities, but also may establish new business models, markets, or distribution channels, strengthen relationships with consumers, and/or add smart remote services. While many technical obstacles of such products have already been overcome, the broad market dissemination of smart products still poses some vital managerial challenges for decision makers. In this paper, we outline the technical potential and future trends of smart consumer products, discuss economic challenges in four scopes, namely, preference-based new product development, market analysis, supply chain design, and industry development, and, in particular, we highlight research perspectives for management science in this promising field.

Suggested Citation

  • Herbert Dawid & Reinhold Decker & Thomas Hermann & Hermann Jahnke & Wilhelm Klat & Rolf König & Christian Stummer, 2017. "Management science in the era of smart consumer products: challenges and research perspectives," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(1), pages 203-230, March.
    • Handle: RePEc:spr:cejnor:v:25:y:2017:i:1:d:10.1007_s10100-016-0436-9
    DOI: 10.1007/s10100-016-0436-9
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