Is servitization helping your business rise up the value chain?

Industry surveys have reported as much as 65% of manufacturers globally will be using a service-based selling model as opposed to product-based by 2020. UK Manufacturing is undergoing a service revolution in terms of what’s being sold and how, as businesses seek to become more responsive to fluctuating customer demands. The shift to sell services alongside physical product, and the availability of new tools to support growing product complexity, require successful manufacturers to embrace servitization in order to deliver greater customer value and achieve higher margins through recurring revenue streams. Manufacturers must immerse themselves completely in the shift in order to extract the greatest amount of value from it.