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Management science in the era of smart consumer products: challenges and research perspectives

Herbert Dawid, Reinhold Decker, Thomas Hermann, Hermann Jahnke, Wilhelm Klat, Rolf König and Christian Stummer
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Herbert Dawid: Bielefeld University
Reinhold Decker: Bielefeld University
Thomas Hermann: Bielefeld University
Hermann Jahnke: Bielefeld University
Wilhelm Klat: Bielefeld University
Rolf König: Bielefeld University

Central European Journal of Operations Research, 2017, vol. 25, issue 1, 203-230

Abstract: Abstract Smart products not only provide novel functionalities, but also may establish new business models, markets, or distribution channels, strengthen relationships with consumers, and/or add smart remote services. While many technical obstacles of such products have already been overcome, the broad market dissemination of smart products still poses some vital managerial challenges for decision makers. In this paper, we outline the technical potential and future trends of smart consumer products, discuss economic challenges in four scopes, namely, preference-based new product development, market analysis, supply chain design, and industry development, and, in particular, we highlight research perspectives for management science in this promising field.

Keywords: Smart products; Management science; Economic challenges; Research perspectives (search for similar items in EconPapers)
Date: 2017
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