Tech-Clarity Insight: Equipment Service Management: Maximizing Profit and Customer Value over the Equipment Lifecycle explains that there are two fundamentals that service organizations must master to rise above the competition – operational control of service operations and equipment intelligence. The paper also introduces an Equipment Service Management Framework that companies can use to benchmark their service processes and technology against a world class approach.
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Note: This paper was originally published in 2008
Table of Contents
- Executive Overview
- Equipment Service Management: Opportunity and Challenge
- Stepping up to World Class Equipment Service Management
- Gaining Operational Control of Service
- Establishing Equipment Intelligence and Confidence in Service Knowledge
- Pulling it all Together for Proactive Service Management
- Pulling it all Together for Better Business Decisions
- The Equipment Service Management Framework
- Summary
- Recommendations
- About the Author
Executive Summary
Profitability and margins in equipment service are at risk due to current market dynamics. Increased competition and slim margins in equipment sales and rental place a heavy burden on manufacturers, dealers, rental companies and service businesses to improve their service performance. Improving service in these conditions is critical to maintaining margins and growing profitability. In order to compete effectively, this paper suggests that there are two fundamentals that service organizations must master to rise above the competition. These two fundamentals, operational control of service operations and equipment intelligence, enable companies to move to proactive service approaches and make better business decisions.
To instill these two fundamentals, world class service organizations are adopting Equipment Service Management (ESM) processes and tools. This approach provides an integrated view to their business so they can improve the value their customers derive from their equipment and subsequently improve their own profitability. This paper introduces the “Equipment Service Management Framework” to help companies compare their organizations to best practices, and offers tangible suggestions to help them reach world class levels of service performance, resulting in greatly enhanced financial performance and profitable growth.