Manufacturers are always adapting to change. In past years, globalization, automation and lean manufacturing were considered competitive differentiators. Today, they’re standard practices for most organizations. The latest disruptive force involves a revenue-driven approach to aftermarket services.
Selling services is a potential game-changer for manufacturers of heavy industrial equipment, such as mining, construction and agricultural machinery. The cyclical nature of these industries presents a challenging environment for many OEMs. Aftermarket services can protect against this volatility by providing an ongoing source of revenue.
IndustryWeek and GE Digital partnered on a joint research effort to explore asset performance trends, strategies and challenges for the OEM market. The survey results suggest that OEMs are looking to enhance or expand their aftermarket offerings, including nearly half of respondents who say their companies will likely increase or expand their aftersales service offerings or significantly expand selling their products as services. Nearly half also say they plan to increase and/or expand the remote condition-monitoring capabilities of their equipment. However, a gap exists between OEMs’ after market goals and their use of enabling technologies.
This report will take an in-depth look at these issues and other factors shaping current and future field service models.