Midlife upgrade of capital equipment: A servitization-enabled, value-adding alternative to traditional equipment replacement strategies

Khan, Muztoba Ahmad; West, Shaun; Wuest, Thorsten

doi:10.1016/j.cirpj.2019.09.001

Cited by 26 publications

(15 citation statements)

References 52 publications

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“…However, they pointed out that this may change in the future as they are currently working to ensure that their products, related to water and air treatment, help in the prevention of COVID-19, improving the perception of users and, therefore, of those who own their products. As mentioned earlier, a midlife upgrade may prove to be a highly effective strategy in the fields of health and security or customer experience [39].…”

Section: Social Sustainabilitymentioning

confidence: 99%

“…Therefore, there exist new and exciting opportunities in terms of efficiency and optimisation, customisation, and the extension of product life and utilisation [38]. Rapidly advancing technologies are creating a promising avenue for upgradability as a form of product-life extension in the context of PSS [39].…”

Section: Digitalisation and Product-service Innovationmentioning

confidence: 99%

“…The considerable investment required eclipses other factors in the decision; thus, all indicators are frequently translated into the economic aspect and then into the payback time of the investment by the customer. According to Khan et al [39], a midlife upgrade strategy appears to be a promising method to postpone replacement and incorporate new technologies, opening new service opportunities for manufacturing companies while enhancing the value delivered to customers (primarily related to economic sustainability). Some of the companies herein highlighted the relevance assigned by the clients to customer experience in transport, which was usually heavily conditioned by rapid technological development.…”

Section: Environmental Sustainabilitymentioning

confidence: 99%

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Digital Product–Service Innovation and Sustainability: A Multiple-Case Study in the Capital Goods Industry

2021

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Digitalisation, servitisation, and sustainability are keywords for the current and future development of the manufacturing industry. However, their interaction in the context of an organisation and its supply chain is unclear. This study examines how digital product–service innovation (PSI) or digital servitisation affects sustainability, considering the triple bottom line perspective, as well as identifies the underlying causes. Moreover, this study analyses the role played by supply-chain strategic collaboration, both internal and external to the company, in digital PSI and sustainability. Using a multiple-case study methodology and B2B market perspective, four companies belonging to the capital goods industry were analysed. Our findings indicate that digitalisation is leveraging both basic and advanced services in their impact on economic and environmental sustainability dimensions, while the results are limited in social sustainability. In addition, supply-chain integration is relevant for digital PSI. Internal integration is required for both basic and advanced services, while external integration is especially important in advanced services. We conclude by emphasising that companies should acquire digital capabilities to develop defensive and offensive business strategies that ultimately affect sustainability.

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Section: Social Sustainabilitymentioning

confidence: 99%

Section: Digitalisation and Product-service Innovationmentioning

confidence: 99%

Section: Environmental Sustainabilitymentioning

confidence: 99%

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Digital Product–Service Innovation and Sustainability: A Multiple-Case Study in the Capital Goods Industry

2021

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“…When establishing the value-added service mode of asset information resources of the government and universities, it is necessary to clarify the subject of providing services and the content of services. Generally speaking, as long as the institution has the asset information resources of the government or universities, it can be regarded as the main body of providing services [25].…”

Section: Block Chain Driven Asset Intelligent Value-added Servicementioning

confidence: 99%

The Path of Digital Government and University Asset Intelligence Value-Added Service Driven by Block Chain Technology

Feng

Ramli

Liu

2022

Journal of Electrical and Computer Engineering

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At present, the government and universities mainly adopted the centralized management mode in the sharing of asset digital resources, which not only had low work efficiency, but also cannot make full use of resources. Block chain technology played an important role in enterprise asset data resource data sharing, but there was less research on asset data sharing services applied to digital government and universities. Therefore, this paper proposed the research on the path of government and university asset value-added service driven by block chain technology, in order to provide reference for improving the utilization rate of state-owned assets and better meeting the needs of users. Based on the research on the problems existing in the digital resource management of relevant government agencies and university departments at home and abroad, combined with the application advantages of block chain technology in relevant fields, this paper analyzed the composition of block chain and the application technical characteristics of value-added services. Starting from the current situation of asset data information management by the government and universities and the needs of users for resources, this paper expounded the important impact of block chain technology on digital government and university asset information management. By analyzing the elements of block chain value-added service, this paper put forward the block chain-driven asset intelligent value-added service mode. In order to track and manage users’ transaction information and meet users’ demand for resources, the application path of asset intelligent value-added service driven by block chain technology was constructed based on the asset value-added service mode, and combined with the characteristics of users’ request for resources, the implementation method of asset intelligent value-added service path was proposed. The experimental results showed that the method proposed in this paper had more advantages than the existing data sharing service system, and can effectively provide technical support for asset value-added services.

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“…[31] proposes a reference framework for the monitoring phase of a CE strategy and a systematic approach for the choice of the adequate methodology, Ref. [63] develops an application that is moving towards digitalization, while the paper [66] studies a replacement decision framework based on the influencing factors and motivations behind equipment replacement. Ref.…”

Section: Recyclementioning

confidence: 99%

Circular Economy Strategies for Equipment Lifetime Extension: A Systematic Review

et al. 2021

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Even if the economy nowadays is still locked into a linear model of production, tighter environmental standards, resource scarcity and changing consumer expectations are forcing organizations to find alternatives to lighten their impacts. The concept of Circular Economy (CE) is to an increasing extent treated as a solution to this series of challenges. That said, the multitude of approaches and definitions around CE and Life Cycle Extension Strategies (LCES) makes it difficult to provide (Small and Medium Enterprise) SMEs with a consistent understanding of the topic. This paper aims at bridging this gap by providing a systematic literature review of the most prominent papers related to the CE and lifetime extension, with a particular focus on the equipment and machinery sector. A taxonomy was used to define and cluster a subset of selected papers to build a homogeneous approach for understanding the multiple strategies used in the industry, and the standards in maintenance and remanufacturing strategies. As a final research step, we also propose a Strategy Characterization Framework (SCF) to build the ground for the selection of the best strategy to be applied for production equipment life cycle extension on several industrial use cases.

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Midlife upgrade of capital equipment: A servitization-enabled, value-adding alternative to traditional equipment replacement strategies

Cited by 26 publications

References 52 publications

Digital Product–Service Innovation and Sustainability: A Multiple-Case Study in the Capital Goods Industry

Digital Product–Service Innovation and Sustainability: A Multiple-Case Study in the Capital Goods Industry

The Path of Digital Government and University Asset Intelligence Value-Added Service Driven by Block Chain Technology

Circular Economy Strategies for Equipment Lifetime Extension: A Systematic Review

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