Paper Info
Title
Monetizing Industry 4.0: Design Principles for Subscription Business in the Manufacturing Industry
Abstract
Subscription business models have a major role for monetizing products and services for manufacturing companies in the age of Industry 4.0. As the manufacturing industry has difficulties generating revenues through digitalization, the implementation of innovative business models are essential to remain successful. Physical assets are often capital-intensive and require a more complex manufacturing process than subscription business models. Moreover, subscription models can focus on the individual customer benefit and a consistent service transformation, constituting a unique selling proposition and a competitive advantage. Hence, the following paper provides a management model that enables manufacturing companies to successfully realize the transformation towards a subscription business model. The management model presents four major fields of action, each matched with one design principle that must be considered when dealing with subscription models in the manufacturing industry. These principles were determined by an in-depth case study analysis among various manufacturing companies. Opportunities, challenges and recommendations for action were then systematically derived and integrated into the management model.
Year
DOI
Venue
2019
10.1109/ICE.2019.8792607
2019 IEEE International Conference on Engineering, Technology and Innovation (ICE/ITMC)
Keywords
Field
DocType
Subscription Business,Industry 4.0,Business Model,Service Transformation,
Design elements and principles,Revenue,Subscription business model,Manufacturing,Competitive advantage,Unique selling proposition,Business model,Industrial organization,Industry 4.0,Business
Conference
ISSN
ISBN
Citations 
2334-315X
978-1-7281-3402-4
0
PageRank 
References 
Authors
0.34
0
5
Name
Order
Citations
PageRank
Günther Schuh100.34
Jana Frank201.35
Philipp Jussen300.68
Calvin Rix400.34
Tobias Harland500.68