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Methodology for the implementation of subscription models in machinery and plant engineering

Year: 2020

Type: article

Abstract: Digitization and Industry 4.0 enable the development of new business models. A promising type of new innovative business models, especially for the machinery and plant engineering industry, are subscription models. They contribute significantly to a sustainable and efficient use of product-service systems. Instead of a one-time product-oriented transaction, companies can focus on a continuous fulfilment of their customers’ needs and benefit from a long-term business relation. However, there is a lack of procedural instructions for the implementation of subscription models. This paper describes a methodology to design an implementation process for subscription models in the machinery and plant engineering industry.

Source: Procedia CIRP

DOI: 10.1016/j.procir.2020.01.131

Authors: Michael Riesener, Christian Doelle, Manuel Ebi, Stefan Perau

Institution: RWTH Aachen University

Language: English

Topic: Service and Product Innovation

Subfield: Marketing

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: diamond

OpenAlex ID: W3047816573

FWCI: 4.127

Cites: 28

Cited by: 25

Related to: 10