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Servitization of Manufacturing Companies

In: Managing Industrial Services

Author

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  • Philipp Osterrieder

    (University of St.Gallen)

Abstract

Organizations servitize—and servitization means that formerly engineering-focused manufacturers transition into companies providing a portfolio of both goods and value-added services. Generally, the process of servitization is triggered by either customers demanding services complementary to the pure provision of hardware or proactive CEOs anticipating the value of a sound service business. But even though transitioning toward a service provider might enable the manufacturer to counteract fluctuating equipment demands and increase revenue, companies need to be aware that they risk falling into the service and/or digital paradox without a firm understanding of the specificities of service management and a solid service strategy. This chapter, therefore, sets out to describe the road to servitization including a clear definition of the term “service” as used in this book and potential pitfalls associated with this development.

Suggested Citation

  • Philipp Osterrieder, 2021. "Servitization of Manufacturing Companies," Management for Professionals, in: Thomas Friedli & Philipp Osterrieder & Moritz Classen (ed.), Managing Industrial Services, edition 1, pages 7-13, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-72728-4_2
    DOI: 10.1007/978-3-030-72728-4_2
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