The past 10 years have ushered in seismic change for the manufacturing sector, including supply chain globalization and an unnerving rate of technology obsolescence. But perhaps the most significant change has been the embedding and networking of intelligence in and around the product.
Today’s market-leading companies are navigating from developing and marketing products, to fostering relationships with customers based on innovation and variegated feature sets. Their brands depend not only on product quality but also on an integrated product-based ecosystem, incorporating customer feedback into product development and honing their range of services.
In response, all manufacturers must continuously assess their business models to determine where and how to establish a product-service continuum, which involves the customer-centric transformation of a business or product line.