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Digital Business Model Innovation for Product-Service Systems

In: The Palgrave Handbook of Servitization

Author

Listed:
  • Wiebke Reim

    (Luleå University of Technology)

  • Vinit Parida

    (Luleå University of Technology)

  • David Sjödin

    (Luleå University of Technology)

Abstract

Manufacturing companies are increasingly focused on digitalization and service-led growth to gain new revenue streams and achieve sustainable competitive advantages. In this regard, offering product-service systems (PSS) is proposed as an attractive solution for manufacturing companies to achieve economic, environmental, and social benefits. More specifically, digital technology is used to offer services that integrate provider and customer operations, which increases efficiency, because each party focuses on its core competencies, and operations are optimized. Business model innovation represents a crucial component that may differentiate successful and unsuccessful PSS companies. Implementing digital business models for PSS provisions is a process with numerous challenges that constitutes a major reason why manufacturing companies struggle to increase the service and digitalization degree of their offerings. This chapter suggests that evaluating and understanding tactics, risk management, service network adjustment, and most importantly, alignment of activities are necessary for successful implementation of digital business model innovation for PSS. This chapter contributes to the PSS literature by proposing a four-phase digital business model innovation framework.

Suggested Citation

  • Wiebke Reim & Vinit Parida & David Sjödin, 2021. "Digital Business Model Innovation for Product-Service Systems," Springer Books, in: Marko Kohtamäki & Tim Baines & Rodrigo Rabetino & Ali Ziaee Bigdeli & Christian Kowalkowski & Rogeli (ed.), The Palgrave Handbook of Servitization, pages 89-101, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75771-7_6
    DOI: 10.1007/978-3-030-75771-7_6
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