Topic
Smart products
About: Smart products is a research topic. Over the lifetime, 425 publications have been published within this topic receiving 8751 citations. The topic is also known as: smart product.
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Journal Article•
TL;DR: Porter and Heppelmann as discussed by the authors provide a framework for developing strategy and achieving competitive advantage in a smart, connected world by providing a broad set of new strategic choices for companies about how value is created and captured.
Abstract: Information technology is revolutionizing products, from appliances to cars to mining equipment. Products once composed solely of mechanical and electrical parts have become complex systems combining hardware, sensors, electronics, and software that connect through the internet in myriad ways. These “smart, connected products” offer exponentially expanding opportunities for new functionality, far greater reliability, and capabilities that cut across and transcend traditional product boundaries. The changing nature of products is disrupting value chains, argue Michael Porter and PTC CEO James Heppelmann, and forcing companies to rethink nearly everything they do, from how they conceive, design, and source their products; to how they manufacture, operate, and service them; to how they build and secure the necessary IT infrastructure. Smart, connected products raise a broad set of new strategic choices for companies about how value is created and captured, how to work with traditional partners and what new partnerships will be required, and how to secure competitive advantage as the new capabilities reshape industry boundaries. For many firms, smart, connected products will force the fundamental question: “What business am I in?” This article provides a framework for developing strategy and achieving competitive advantage in a smart, connected world.
2,037 citations
TL;DR: The findings show that Industry 4.0 is related to a systemic adoption of the front-end technologies, in which Smart Manufacturing plays a central role, and the implementation of the base technologies is challenging companies, since big data and analytics are still low implemented in the sample studied.
1,245 citations
Book•
01 Jan 1991
TL;DR: The old method for marketing smart products - which basically amounted to throwing money away with both hands - makes way for a totally new game plan as discussed by the authors, which is a totally different game plan.
Abstract: The old method for marketing smart products - which basically amounted to throwing money away with both hands - makes way for a totally new game plan.
443 citations
24 Jun 2015
TL;DR: The use of current technologies like Big Data or cloud-computing are drivers for the individual potential of use of Industry 4.0, while business process complexity has a negative influence.
Abstract: Industry 4.0 combines the strengths of traditional industries with cutting edge internet technologies. It embraces a set of technologies enabling smart products integrated into intertwined digital and physical processes. Therefore, many companies face the challenge to assess the diversity of developments and concepts summarized under the term industry 4.0. The paper presents the result of a study on the potential of industry 4.0. The use of current technologies like Big Data or cloud-computing are drivers for the individual potential of use of Industry 4.0. Furthermore mass customization as well as the use of idle data and production time improvement are strong influence factors to the potential of Industry 4.0. On the other hand business process complexity has a negative influence.
425 citations
TL;DR: In this paper, a brief literature review conducted to extend our knowledge about how Industry 4.0 affects business models and to identify business model innovations derived in consequence is presented, where four different ways to innovate the business models based on different degrees of innovation are proposed to embrace the digitalization.
281 citations