What Is Servitization
What are the origins of servitization? In 1988, Sandra Vandermerwe and Juan Rada presented what they termed the “servitization of business”, explaining how more and more corporations were adding value to their core corporate offerings through services. – For some well-intended temporal perspective here, this was the year before Tim Berners-Lee invented the “World Wide Web” while working at CERN and a full eleven years before Kevin Ashton coined the term “Internet of Things” during his time at Procter & Gamble. – Vandermerwe and Rada observed that companies were offering “bundles of customer-focused combinations of goods, services, support, self-service, and knowledge”, with services beginning to dominate.