No longer do consumers need to own, store and maintain items, regardless of whether they are tools, office or household appliances or even cars. At SmartUse.Global we have the technology to support the transition to a Product as a Service model.
As Accenture points out in their Journal of High-Performance Business: product longevity, reusability and sharing are no longer seen as cannibalisation risks, but instead, as drivers of revenue and reduced costs.
Do consumers want the things itself – the car, the light bulb, the handbag? Or the benefits it brings? With Product as a Service business model, products are used by one or more customers through a lease or pay-for-use arrangements. This approach turns the incentive for product durability and upgrading upside down, shifting companies’ focus from volume to performance.
High Tech giant Philips, wanting to reduce waste from lightbulbs while at the same time changing to a more profitable business model, offers lighting as a series of services – advisory services (evaluation of existing systems), project services (creation and implementation of new solutions) and lifecycle services (guarantee of maintenance and performance).
Simapro states in their article Five Ways to Circular Economy: Xerox long ago realised that companies did not need copiers, they needed copies. This meant that companies no longer had to care whether they got a new machine or a refurbished machine. The refurbishment of used machines on a large scale led to significant cost savings and big benefits for the environment.
These are but a few examples of how companies are innovating their models to succeed in the new economy. But in order to do so, they need a robust enterprise-grade platform for managing the assets upon which they build their business. One that provides an understanding of the usage data, maintenance requirements, real-time location as well as vital information about their customers. This is where we come in!
At SmartUse.Global in partnership with myTurn.com pbc, we have the technology to support the transition to a Product as a Service model. Providing robust reporting with data on what assets you have, their life-cycle management, maintenance solutions and more. We support a broad range of stakeholders (public, private as well as NGOs) with the digital tools they need to optimise resource usage either within their organisation, externally to customers B2C, or by the development of networks and clusters in B2B marketplaces.
In reference to Product as a Service business model, that is but one of the solutions that we support. By enabling businesses to manage their inventory, supporting online reservations and warehouse management, RFID/barcode scanning as well as maintenance management, payment gateway and more, companies have a lower threshold to offer lending/leasing/rental of products, leading to a more circular economy. We have international partners and offer robust enterprise-grade solutions.
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