Challenges in industrial service business development

Abstract

Industrial service business is a fast-growing area in engineering and manufacturing industry. Many companies have tried to develop industrial services to create new business with customers but many of them have failed. Often customers have not valued the proposed service models because of the lack of added value compared to current co-operation between supplier and customer. This paper presents the findings of a BestServ feasibility study that was aimed at recognising the current status, development needs and future challenges of industrial service business in Finnish manufacturing industry.