Increased competition has forced companies to lower the price of new products as well as seek out new business models in the area of service and maintenance to retain their market share. To build a sustainable business in such an environment, a manufacturer has to do everything possible to lower the costs associated with production. One of the ways to reduce this cost is to optimize the usage of production assets as well as minimize the service cost and possibility of downtimes.
I’m your host, Kerri Doyle, and today I’m joined by Yishai Barak, Director of SLM at Siemens Digital Industries Software. Also joining us is Ken Amann, Executive Consultant at CIMdata. The two experts will help us understand how service lifecycle management (SLM) transforms asset usage and maintenance.
In this episode, you’ll hear about SLM and the role it plays in optimizing asset-related costs. We’ll also discuss the need for an open ecosystem that allows for seamless data flow and modular integration. You’ll also learn about the benefits of SLM and the barriers faced by manufacturers wishing to deploy it.
What You’ll Learn in this Episode:
- What service lifecycle management is and why manufacturers should consider it (02:04)
- The potential barriers to profitability for manufacturers today (04:57)
- The benefits of service lifecycle management (10:37)
- Why a modern open ecosystem is needed to enable effective SLM (13:51)
Senior Marketing Manager at Siemens Digital Industries Software
Executive Consultant at CIMdata
Director of SLM at Siemens Digital Industries Software