“People don’t want a quarter inch drill. They want a quarter inch hole.” Theodore Levitt
In a time of great uncertainty – customer behavior and expectations rapidly changing, nationalist governments on the rise threatening free trade agreements, technological advancements giving birth to disruptive and non-traditional competitors – Service seems to be a manufacturer’s best weapon to not only survive, but thrive.
The parts business may be only one piece of the big-picture puzzle of transforming towards a solution provider, but it is one with great potential to getting closer to your customers.
Everyone already is (or should be) on the IoT train, but how does it actually impact your parts business and how does it help you serve your customers? How can the industrial sector as a whole, lagging behind compared to other industries, transform towards digital maturity?
Additionally, technology is having more and more of a preponderant role due to its impact on operational efficiency and profit margins. One of the biggest technological innovation that is affecting spare parts operations today is e-commerce. While being able to sell parts online to customers all over the world has become a necessity for both large and small enterprises, what impact does e-commerce have on an organization’s pricing strategies, and logistics channels?