Why Should Manufacturer Provide Smart Product Abd Essay Example

of nanoseconds. Humans cannot do this, nor should they; this incessant stream of business information should be invisible to people.

At the same time, all this background activity gives managers and decision makers much more visibility into a business’s assets, costs, and liabilities—precisely when they need or want it. In business, “Smart” means solving problems fast and efficiently. For manufacturing companies, decreasing the cost, increasing the profit and expanding the market are the benefits they can obtain.

If manufacturing companies can develop smart products or smart services, they can gain those benefits.

In the paragraph, it said maintenance is one of the key elements in the life cycle of a product. The function, efficiency, reliability and permanence will also be the other key components to affect the market. The more functions a product has, the higher price will be sold. If a product can enhance the reliability and permanence, both customers and companies can diminish the cost when they try to fix the products.

The other important thing for a product is operating efficiently. High compatibility not only create high value added product but also raise the efficiency.

Combining above can build a brand image and expand the market. Thus, a company can reach the terminal goal of the business and gain the benefit.

What information technologies are used by the companies in this case to build smart products and provide smart services? What other IT components might be used? Give examples of the capabilities they would provide. What are some limitations of a smart products and smart services strategy? Give several examples of challenges that a business might encounter, and explain how it might overcome them.