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Servitisation: A strategic direction for manufacturers Evening Seminar

Host: Digital Growth Programme
Venue: Notts County Football Club, Nottingham, NG2 3HJ
Date: Thursday 25th October, 2018
Time: 5.30pm - 8.30pm
Cost: Free

The Digital Growth Programme is part-funded by the European Regional Development Fund.

No business can stand still – to meet your customers’ needs while remaining profitable, your strategy in the marketplace must evolve.

Today’s UK manufacturers face unique challenges.  The Far East has a low-cost advantage and a Bad Brexit could mean tariffs imposed by Europe. As trying to survive gets harder, the need to change and adapt manufacturing is upon us.  But what are the options?

‘Servitisation’ is an ever-growing business model where traditional manufacturers of physical products diversify - finding ways to ‘bolt-on’ and link services to their traditional products.

At its most innovative, servitisation combines manufacturing with numerous IT developments linked with the Internet of Things (IoT) and Artificial Intelligence (AI) – consider the refrigerator producers which have created a product that automatically orders milk when you’re running low.  Adding services adds value, and makes you stand out amongst your competitors.

 

What the seminar will cover

This practical seminar is aimed at local manufacturers currently selling existing products.  It will help you to understand what this transformational idea is, and how to get started in the context of your own business.  Key topics will include:

  • The case for change
  • The paradigm shift from one-off transactional to long-term customer relationships
  • The augmented (non-physical) product as a service
  • Methods that enable stronger co-creation with customers
  • Key steps in your digital strategy
  • Starting your own transition and transformation journey
  • Sources of funding
  • An open discussion to help you place ideas in your own context 

 

What you will get out of the seminar

You will leave the seminar understanding what servitisation is and how to begin building your own plans and capability.   You will have the knowledge and understanding to start building new strategies that undermine the low-cost advantages in the Far East and open new business opportunities around the world. Importantly, you will also leave knowing how to seek funding for your business idea.


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