skip to primary navigationskip to content

Cambridge Service Alliance

At the forefront of service transformation in the digital era

Studying at Cambridge

 

Engineering Services - Unpacking Value Exchange

last modified May 03, 2016 10:20 AM
April paper on 'Engineering Services: Unpacking Value Exchange', by Florian Urmetzer, Andy Neely, Veronica Martinez

Many commentators discuss value in manufacturing. The aim of this paper is to unpack the concept of value, exploring what it means in a practical setting using the service staircase. At one level, one can consider value in terms of the product being provided – does the product meet the customer’s requirements and hence create value for the customer? However, customers use products to achieve outcomes. So value can also be thought of in terms of the efficiency and effectiveness with which the product enables customers to achieve the outcomes they want – does the machine create the most value throughout its lifetime? Another perspective on value is to consider the two-way flow. Manufacturers create value for customers, but customers in turn create value for manufacturers. By, for example, continuing to use a manufacturer’s services to support the products through life. In this case the customer creates economic value for the manufacturer. Additionally by feeding back data on the operation of the product during its working life, the customer allows the manufacturer to improve future generations of a product.

[paper]

RSS Feed Latest news

Blog | Has COVID-19 Invented the 10X Supply Chain?

Jul 06, 2020

Surendra Kancherla, Principal Architect - Digital Technologies, at CSA partner, HCL, says that COVID-19 is forcing firms to look afresh at their supply chain capabilities.

Insight | Business model innovation for digital twins in the construction sector

May 19, 2020

At the Cambridge Service Alliance's most recent Community of Interest, Dr Erika Pärn considered the development of digital twins in the construction sector: the challenges it faces and whether android operating systems could provide a useful roadmap for business model innovation.

Generate revenue from digital platforms

May 12, 2020

According to Shep Hyken: "Customers are smarter than ever because they're experiencing great service from certain brands, and those rock-star brands are setting the bar higher for everyone else." In this white paper we explore the 'customer experience paradox' and how firms can use digital platforms to overcome it.

Unlocking the secrets of customer loyalty

May 12, 2020

Customer retention plays a critical role in a firm's long-term sustainability. Until recently, however, firms have tended to rely on one-dimensional survey techniques to measure their customers' loyalty. This white paper shows how machine learning can help overcome these limitations.

Driving business model transformation

May 01, 2020

A new white paper from the Cambridge Service Alliance and HCL Technologies considers how the development of a digital thread is vital for business model transformation.

View all news