Abstract
Servitization is a growing trend where companies expand their product-based businesses to include complementary service offerings. The digital age is accelerating this trend as technology allows companies from all sectors to offer increasingly sophisticated, integrated, and personalized services. This shift requires companies to restructure their organizational structures and improve their processes. A systematic literature review was conducted to uncover successful practices and approaches in implementing servitization in the current technological setting. This systematic review provides a comprehensive understanding of recent research on servitization, business models, big data analytics, and pricing strategies. It concludes that companies can establish a competitive advantage in today's digital age by effectively transforming business models towards holistic solutions, exploiting big data analytics, and crafting pricing strategies.
| Original language | English |
|---|---|
| Pages (from-to) | 2531-2539 |
| Number of pages | 9 |
| Journal | Procedia Computer Science |
| Volume | 232 |
| DOIs | |
| Publication status | Published - 1 Jan 2024 |
| Event | 5th International Conference on Industry 4.0 and Smart Manufacturing, ISM 2023 - Lisbon, Portugal Duration: 22 Nov 2023 → 24 Nov 2023 |
Bibliographical note
Publisher Copyright:© 2024 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (https://creativecommons.org/licenses/by-nc-nd/4.0)
Funding
This work is funded by National Funds through the FCT-Foundation for Science and Technology, I.P., within the scope of the project Ref. UIDB/05583/2020. We would like to thank the Research Center in Digital Services (CISeD) and the Polytechnic of Viseu for their support. This work is funded by National Funds through the FCT-Foundation for Science and Technology, I.P., within the scope of the project Ref. UIDB/05583/2020. We would like to thank the Research Center in Digital Services (CISeD) and the Polytechnic of Viseu for their support. This work is funded by National Funds through the FCT\u2014 oundation for Science and Technology, I.P., within the scope of the project Ref. UIDB/05583/2020. We would like to thank the Research Center in Digital Services (CISeD) and the Polytechnic of Viseu for their support.
| Funders | Funder number |
|---|---|
| Polytechnic of Viseu | |
| Fundação para a Ciência e a Tecnologia | UIDB/05583/2020 |
Keywords
- Digital age
- Product-Service Systems
- Servitization
- Strategies