The construction and manufacturing sectors, the hardest hit by the recession, are gaining ground once again. Wood building materials—specifically Plywood, Particleboard and Medium Density Fiberboard—are expected to show considerable price gains during the next three years. To improve their access to high quality materials, buyers can lock in multiyear contracts, which will help avoid service interruptions and price hikes during a period of heightened demand; such contracts generally range in length from one to three years. Rising construction activity and growth in business openings will contribute to significant price gains for many building construction and maintenance services. Electrical Wire and Electrical Cable manufacturers have raised their prices in recent years as a result of rising construction demand, and prices are expected to continue to grow as the construction sector heats up further. Over the next three years, demand for surface freight transport services will grow significantly as trade rises, consumer spending increases and manufacturing activity climbs.
Buyers in cargo markets can lock down long-term contracts to shield themselves from price growth, but should note that they will remain subject to changing fuel surcharges.
Armed with a basic understanding of the dynamics of these high price-growth markets, buyers can enter the purchasing process with greater negotiating power.
I have worked with Audrey whilst working for two separate Welfare to Work organisations over the past 8 years.
Panache began working with Audrey earlier this year following a restructure within the business.
Audrey has provided sales training for two teams that I have managed and I’ve not been let down or disappointed. All these products will be focused on helping you gain more sales and improve your confidence. Without monitoring your results the likelihood is that you will never know how well you are doing or what part of your presentation on the phone needs to be amended. Sign up first and choose a user name and password to enable you to access your information. Product-Service Systems (PSS) raise interesting opportunities for the manufacturing firm as the function is provided to meet customer needs rather than the physical hardware itself.
For the past five years, we at Service Performance Insight have tracked the percentage of total revenue generated by products in independent professional services organizations. Not all of the revenue comes from proprietary packaged services, as many independent professional services providers also sell additional off-the-shelf hardware and software. Given the commoditization of many types of professional services, a packaged solution including products can help professional services organizations distinguish themselves from the competition. This is especially evident in the IT consulting sector, as systems integrators are increasingly developing their own proprietary software to better help their clients use the technologies they implement. Many products, while providing a competitive advantage, are very complex to develop and manage over time. In the past, it was all about implementing a product with a defined, albeit time and materials, statement of work, without any long-term support or ongoing commitment. Obviously, executives prefer 90 percent product margins as opposed to 20 percent for services. Products must be developed with specific services in mind and include the potential for additional service and support revenue over time.
Conversely, services firms that have already begun to develop products need to watch their cost and the perceived value they deliver.
Before working on the development of a product to enhance overall revenue, all parties involved need to answer key questions and accept the answers.
If men are from Mars and women are from Venus, then products are from Pluto and services are from Saturn.
A team must be developed with specific skill sets and a collaborative framework to ensure the synchronicity between products and services. As the economy strengthens, one thing has become abundantly clear: Product manufacturers are investing heavily in professional services, and services organizations are investing heavily in building products. Research paper published in 19th International Conference on Engineering Design (ICED13), 19-22 August, 2013, Seoul, Korea.
Research paper published in Proceedings of the 12th International Design Conference – Design 2012. Research paper published in Proceedings of the 18th International Conference on Engineering Design. Research paper published in Proceedings of the 3rd CIRP International Conference on Industrial Product Service Systems. The product or service of a business requires as much management as the employees of the business.
The prices of many of these sectors’ products and services are rising in turn, as are prices in key freight transportation markets. Demand increases for Industrial Building & Warehouse Construction will stem from a jump in private investors’ spending on manufacturing facilities. Growth in both residential and nonresidential construction will heighten demand for building materials, including gypsum wallboard, suppliers’ primary material input. Major growth in air cargo prices has turned many shippers away from that market, leaving cheaper, more fuel efficient, yet slower surface carriers with a larger customer base. Demand for railroads will rise as trade increases, manufacturing activity grows and domestic extraction of unconventional oil and gas, much of which is accessible by rail but not pipeline, climbs.


Whether buying now to lock down pricing or delaying a purchase until budgets or needs are determined, procurement professionals must grasp the drivers and trends shaping their suppliers’ markets to make the optimal purchasing choice. As we are a small business, Investing in training of the calibre delivered by Audrey was a big decision. She is an inspiration and delivers highly effective training and someone who is passionate about improving peoples skills and confidence. I found Audrey to be communicative, reliable and democratic even when dealing with 100 learners. Over the next few months we’ll be introducing many new products and services specifically for you. We have developed an excel spreadsheet for those individuals who would like to measure accurately how effective they are being. We’ve also included some key questions for you to answer to help you focus your efforts. PSS offerings based on the manufacturer’s knowledge about the product and the technology can increase its status as problem-solver and solution-provider, reduce life cycle cost and produce high revenue. Everywhere you see product-driven organizations counteracting product commoditization through the addition of value-added services. Across all industries, firms are placing a premium on the total customer experience — lifetime value — not just the worth of the product sale.
Until recently, independent service providers reported about 5 percent of total revenue came from the sale of pass-through hardware and software. However, an increasingly higher percentage of revenue comes from their own internally developed products such as dashboards, report packages, data loaders and integration tools. As the market moves towards greater industry specialization — with unique business processes, data and analytics — this trend will become increasingly popular.
It brings a whole new host of factors into play as services-driven organizations begin to develop and sell products. Now there are upgrades, staged roll-outs and re-implementations of the product in addition to managed services and hosting.
For instance, traditional software vendors sell software with a 90 percent margin, whereas their consulting services might only produce a 10 to 20 percent margin as shown in Table 1.
Unfortunately, as products become more complex, the services component also becomes more complex and mandatory. Executives need to agree on the specific goal of the product, as it might be a sales enabler for more services, and thus carry a minimal cost or margin. The biggest issue is confusion regarding the realistic amount of services required to bring the product to life. Many firms that have had initial success developing a product get caught up in the “develop a product at all costs” mindset. The IT infrastructure is especially important, particularly the enterprise resource planning (ERP) solution, which should be able to manage both products and services in the same sales order.
Both of these are unfamiliar territories to the executives running their respective organizations.
On one side this businesses give the manufacturing firm possibilities to redesign, upgrade and replace the discrete device that provides the performance their customers are asking for. IBISWorld has identified four product and service categories—wood building materials, building construction and maintenance, power and telecom transmission equipment, and surface freight transport services— that affect a range of buyers and will be areas of significant price growth over the next three years because of heightened construction and manufacturing activity. Such spending is expected to rise at an annualized rate of 5.8% over the next three years as the US economy expands and export opportunities increase. No perfect substitute for this material exists, and the full weight of suppliers’ input cost growth will be borne by buyers. Copper is the primary input in each of these products, and its price has already surpassed pre-recession levels.
As surface carriers’ cargo volumes grow over the next three years, intermodal container demand will continue to rise.
High market share concentration gives individual railroads considerable control over market prices; only seven long-haul carriers operate in the US market. Buyers must leverage their freight transport options and market their desirability as a customer to obtain more favorable freight rates; the leverage a buyer has, or gives the impression of having, is critical in reducing costs because carriers’ contract rates vary widely by customer. In the markets discussed above, which have combined annual sales of over $200 billion, strategic sourcing is becoming increasingly important as a cost reduction method due to the magnitude of forecast price growth. Services-driven organizations are packaging their services into repeatable service offers and products to shorten time to value. Aftermarket services are the cash cow of the automotive industry where product margins are thin, and competition is intense.
In the 2014 Professional Services Maturity™ Benchmark, this figure nearly tripled to 12 percent, and this is just for independents, such as IT and management consultancies. Just like product-driven organizations have moved to services as a source of differentiation, now services-driven organizations are doing the same. The product could be hardware and software combined with services to create a unique solution. Complex products require additional infrastructure for long-term development and support, something many professional services organizations are not accustomed to providing.
This new scenario keeps the service provider engaged with the customer for the life of the solution, demanding long-term contracts and relationships.


Product executives must carefully consider the desired profit margin of services without degrading overall corporate profitability all while maintaining high levels of customer adoption and satisfaction. Or it could be intended to generate high levels of product profit with minimal service margin. Immature products or products that solve complex business problems may require loads of services. Failure to implement the correct services strategy could ultimately doom the success of the high-margin product if customer use and adoption are low due to poor implementation and training. If this service is offered for free, then executives must closely monitor it, as it can eat into both product and service margins.
Unfortunately, improperly managed products tend to eventually cost more than the value they deliver. In many cases, products are more predictable than services, but without required services and enhancements, product revenue could quickly dry up. Companies with strong skills in manufacturing products cannot easily begin selling services. Managed correctly, both offer the potential for greater growth, client satisfaction and profit.  A complementary product and service strategy requires leaders on both sides of the aisle to learn from each other and collaborate to develop real solutions which solve real client problems.
Buyers can leverage their knowledge of the market dynamics, forecasts and buying strategies discussed below to make more cost effective purchasing decisions. Buyers in the market for a new industrial building or warehouse can expect to see the price for its construction grow at an annualized rate of about 5.0% during the next three years.
Furthermore, the same market forces that raise demand for wallboard will heighten demand for installation services. Copper’s price volatility is a threat to price stability in wire and cable markets, and a spike in its price could drive up these markets’ prices even further. Demand growth and high market share concentration among intermodal container lessors will result in annualized increases in Intermodal Cargo Container Rental rates of about 5.5%.
Also, many intercity routes are served by two or fewer railroads, and the viability of substitute modes of transport, such as truck or barge, is often limited due to product type and route.
Buyers should also discuss route bundling, volume discounts and long-term strategies that help a carrier achieve its operational goals in negotiations.
This trend is good for customers because it means the days of selling and running are over. This trend has also emerged in the professional services sector, as increased global competition has made it necessary for services-driven organizations to offer service packages and products, with tangible deliverables. These solutions offer a proven complement of hardware, software and services that together solve a complex business problem. The question is: Can the required services be sold at a profit, or must they be discounted to garner the product sale? In this chapter, we will elaborate on product and service development processes models, as well as system models to propose a frame of reference for multiple perspectives on PSS development.
Rising domestic demand will be complemented by even stronger increases in wood consumption from developing countries. Therefore, buyers willing to begin construction early can harness significant cost savings compared to those that wait. As such, buyers in the market for building renovations should add drywall installation to their list of services to procure sooner rather than later. Buyers are encouraged to purchase electrical wire and cable now, or secure long-term contracts that lock in rates.
For shippers with long-term container needs, such growth enhances the value of an outright purchase or a long-term finance lease rather than a shorter term operating lease. For instance it might highlight to you that the rejection you mght be getting with gatekeepers is far too high based on the average. While suppliers will benefit from demand growth with heightened sales at home and abroad, buyers will face rising prices. Fortunately for buyers, this market is extremely fragmented, heightening the level of competition in contract bidding. These actions will reduce costs; the construction sector has yet to fully recover and bring these products’ prices upward with it, and copper prices have temporarily slumped, with an uncertain future ahead.
Looking back historically, the last century gives an interesting changing landscape of the rationale for the product-development methods used in manufacturing firms.
Buyers should therefore cast a wide net in their search for installers, and solicit quotes from as many as possible to bring in some low bids that reduce costs. All this is done with a touch of a button and makes the whole evaluation process effortless! This article, based on the previous research in the product- and service-development fields, and on empirical results from studies at several manufacturing firms, looks into how the engineering work is affected by PSS and how it can be enhanced for PSS, especially in terms of required competencies and other capabilities.
What about Linkedin and the host of e-commerce and social media applications are they products or services?



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