Digital Business Models for Industrial Suppliers—The Case of Schaeffler OPTIME

Philipp Jussen (), Martin Meinel () and Tim Hosenfeldt ()
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Philipp Jussen: Schaeffler Monitoring Services GmbH
Martin Meinel: Schaeffler AG
Tim Hosenfeldt: Schaeffler AG

A chapter in Digital Business Models in Industrial Ecosystems, 2021, pp 71-85 from Springer

Abstract: Abstract Today more than ever, industrial suppliers are facing existential challenges. The ever-faster pace of technological change, the emergence of innovative business models, and the increase of servitization are threatening the very existence of entire industries. In view of these challenges, the question arises as to how established companies in the supplier industry can develop strategies and generate innovations that can ensure the long-term survival of these companies. This article answers this question by examining a current practical case in the rotating machinery market. Using Schaeffler OPTIME, a digital condition monitoring solution, the challenges and benefits of digital business models for traditional industrial suppliers are highlighted. Thus, the article provides a valuable contribution to a better understanding of new digital business models in changing ecosystems. At the same time, the article provides a best practice for those responsible for innovation in industrial companies.

Date: 2021
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DOI: 10.1007/978-3-030-82003-9_5

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