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Spare Parts Summit UK
April 4, 2019
Spare Parts is considered as the money-maker of an after-sales division. However, organizations need to adapt to a rapidly changing world and changing customer behaviors (and expectations) in order to retain the competitive edge and grow their revenue. Continuous innovation is the only key to success.
Thankfully, most manufacturers have understood that servitization is the way forward, because it helps lock in the installed base, it has the potential for more stable revenues, it increases the differentiation of services, it challenges competitors on value rather than price, and it meets customer demand for more service-based contracts. The road to Service Transformation is a company-wide effort that needs support from the spare parts business to achieve success.
Additionally, technology is having more and more of a preponderant role due to its impact on operational efficiency and profit margins. One of the biggest technological innovation that is affecting spare parts operations today is e-commerce.
While being able to sell parts online to customers all over the world has become a necessity for both large and small enterprises, what impact does e-commerce have on an organization’s pricing strategies, and logistics channels?
3D Printing is another futuristic technology that can directly impact spare parts businesses and it would be mean a lot for a company’s inventory management. However, is the technology a short term reality, or a futuristic dream?
Join us April in Coventry for a unique one-day event with your peers to discuss, share and network on the strategies to ensure your customers get the right part at the right time, at the right price.