In this episode of the Aftermarket Champions podcast, host Vivek Joshi interviews Christian Kowalkowski, a professor at Linköping University and director of the Center for Business Model Innovation. They discuss the significance of business model innovation, particularly in the context of servitization within the manufacturing sector. Kowalkowski shares insights on the challenges faced by manufacturers, the importance of cultural shifts, and the evolving expectations of customers. The conversation also touches on the marketing strategies necessary for successful subscription models and the future of business model innovation in various industries.
Takeaways
1. Business model innovation is crucial for sustained competitive advantage.
2. Servitization allows manufacturers to create new revenue streams.
3. Cultural shifts within organizations are essential for successful transformation.
4. Customer expectations are evolving towards performance-based outcomes.
5. The transition from CapEx to OpEx is reshaping business models.
6. HR challenges can hinder the progress of servitization initiatives.
7. Effective risk management is vital in subscription-based models.
8. Different industries have varying receptiveness to subscription models.
9. Marketing strategies must adapt to new business models and customer engagement.
10. The future of business model innovation is promising, with many opportunities for growth.
In this episode of the Aftermarket Champions podcast, host Vivek Joshi speaks with Roger Durham, a veteran in aftermarket services. They discuss Roger's journey from engineering to service leadership, the importance of transformation and continuous improvement in the aftermarket sector, and the challenges of managing complexity in service transactions. Roger emphasizes the significance of a customer-centric approach, the 1% improvement philosophy, and the balance between technology and human factors in achieving success. The conversation also touches on the realities of AI in the industry and the need for strategic investment in technology to drive growth.
Takeaways:
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi interviews Ryan Cook, a senior business unit manager at Franklin Electric. Ryan shares his extensive experience in the aftermarket services sector, discussing the importance of treating all parts equally, regardless of their price. He emphasizes a customer-centric approach, the significance of data-driven decision-making, and the need for dedicated teams in aftermarket operations. The conversation also touches on the complexities of managing aftermarket services, the role of packaging in customer experience, and the challenges posed by e-commerce. Ryan concludes by reflecting on the balance of luck and talent in achieving career success.
Takeaways
- A $30 part is just as important as a $30,000 part.
- Customer-centric strategies are essential for success.
- Data-driven decision-making enhances business arguments.
- Dedicated teams are crucial for aftermarket success.
- Packaging impacts customer perception and experience.
- Complexity in aftermarket operations is a constant challenge.
- E-commerce requires meticulous management of part data.
- Tribal knowledge can lead to operational risks.
- The ease of doing business is critical for customer satisfaction.
- Building relationships is key to career advancement.
In this episode of the Aftermarket Champions podcast, Vivek Joshi interviews Mark Hessinger, a seasoned leader in aftermarket services. Mark shares his extensive career journey, highlighting his global experiences and transitions from software support to equipment manufacturing. He discusses the importance of understanding cultural differences in customer expectations and the critical role of technology investments in enhancing service operations. Mark emphasizes the need for a clear vision aligned with corporate goals and offers insights on managing technology implementation journeys effectively. He concludes with advice for leaders looking to adopt new technologies in their organizations.
Takeaways:
- Mark Hessinger has a rich background in aftermarket services.
- He emphasizes the importance of continuous education in career progression.
- Cultural differences significantly impact customer expectations and service delivery.
- Investing in technology is crucial for improving service operations.
- A clear vision aligned with corporate goals is essential for technology investments.
- Managing scope creep is vital during technology implementation.
- Bite-sized projects help demonstrate progress in long-term initiatives.
- Team collaboration is key to successful technology adoption.
- Understanding stakeholder priorities is critical for gaining support.
- Learning from experiences and being open to feedback drives personal growth.
In this episode, Vivek Joshi interviews Shari Litow, the Director of Aftermarket and Services at AMF Bakery Systems. Shari shares her journey from the chemicals industry to capital equipment, discussing her role in enhancing customer experience and service innovations. She emphasizes the importance of building a digital experience, managing change effectively, and the challenges of finding and training talent in a rapidly evolving workforce. Shari also highlights the significance of operational excellence in driving growth and offers valuable lessons for new leaders in the industry.
Takeaways:
Shari Litow is the Director of Aftermarket and Services at AMF Bakery Systems.
AMF focuses on capital equipment for the baking industry.
Shari's role includes parts management, technical documentation, and customer service.
Transitioning from chemicals to capital equipment involved significant learning.
Customer experience is central to AMF's strategy.
Building a digital experience is crucial for customer engagement.
Change management requires involving employees in the process.
The industry faces challenges in finding skilled labor.
Operational excellence can drive growth in aftermarket services.
Surrounding yourself with knowledgeable people is key to success.
In this conversation, Vivek Joshi interviews Andrew Syzek from ATS Automation, exploring Andrew's journey from military service to a successful career in the service industry. They discuss the importance of customer experience, the dynamic relationship between sales and service, and the need for collaboration across functions. Andrew shares insights on becoming an aftermarket champion, the role of leadership in service, and the significance of service maturity and change management. The conversation emphasizes the necessity of storytelling in service delivery and the impact of service on business success.
Takeaways:
In this conversation, Vivek Joshi interviews Meindert Flikkema, a professor of innovation strategies for services, discussing the evolution of service innovation, the transition from consulting to academia, and the challenges and opportunities in the field. They explore the shift towards servitization in manufacturing, the impact of digitalization, and the generational changes affecting service perceptions. The conversation also addresses labor shortages, barriers to large-scale digital servitization, and the characteristics that distinguish successful service innovation champions. Finally, they discuss future trends, particularly the role of sustainability and venture capital in shaping business models.
Chapters
00:00 - Introduction to Service Innovation and Meindert Flikkema
02:58 - Transitioning from Consulting to Academia
05:52 - The Shift to Servitization in Manufacturing
09:00 - Challenges and Opportunities in Service Innovation
11:58 - The Role of Digitalization in Service Transformation
14:56 - Generational Changes and Their Impact on Services
18:03 - Navigating Labor Shortages and Skills Gaps
20:57 - Barriers to Large-Scale Digital Servitization
24:07 - Identifying Champions in Service Innovation
27:06 - Future Trends in Service Innovation and Sustainability
Takeaways:
- Service innovation emerged as a distinct field due to a lack of focus on services in traditional business models.
- The shift to servitization is gaining momentum, driven by sustainability and digitalization.
- Labor shortages are a significant challenge for service innovation in manufacturing.
- Companies often struggle with the transition to service-oriented business models due to persistent misconceptions.
- Digital servitization is becoming essential, yet many companies remain stuck in pilot phases.
- Successful service innovation requires client involvement and commitment from both sides.
- Maturity models are crucial for understanding the progression of service innovation.
- Regulatory pressures can drive innovation more effectively than market potential alone.
- Venture capitalists are increasingly favoring service-oriented business models.
- The future of service innovation will be shaped by sustainability and technological advancements.
In this episode of Aftermarket Champions, Vivek Joshi interviews Jan van Veen, CEO of More Momentum, discussing the evolving landscape of aftermarket services and strategies for B2B manufacturers. They explore the importance of customer-centric service innovation, the challenges faced by organizations in executing service strategies, and the need for patience and a long-term vision in transformation efforts. Jan emphasizes the significance of building domain expertise and learning from other industries to drive service success.
Chapters
00:00 - Introduction to Aftermarket Strategy
02:51 - Jan's Journey in Services and Consultancy
05:57 - Understanding Strategy in the Context of Services
08:57 - The Importance of Customer-Centric Service Innovation
11:59 - Challenges in B2B Service Execution
14:57 - Transforming Service Organizations
17:58 - The Role of Technology in Service Strategy
21:03 - Building Domain Expertise for Service Success
24:04 - Networking and Learning from Other Industries
27:00 - The Need for Patience in Transformation
29:52 - Conclusion and Future Directions
Takeaways
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi interviews Chad Sloan (Director, Global CS&I Sales) from Axcelis Technologies, who emphasizes the importance of starting with customer challenges to develop effective aftermarket solutions. He highlights that understanding customer needs allows for the creation of standardized solutions, crucial for managing limited resources efficiently.
Chad points out that OEMs have a unique advantage due to their comprehensive capabilities and global infrastructure, which can be leveraged to provide tailored solutions. Additionally, he stresses the need for having the right people to build trust and relationships with customers, which is essential for successful engagement and problem-solving.
Chad also discusses the critical role of the sales force, advocating for the use of tools and automation to minimize administrative burdens and maximize customer interaction time. This approach ensures that salespeople can focus on developing relationships and understanding customer needs, rather than being bogged down by internal tasks.
A significant challenge identified is the "silver tsunami," referring to the retiring of experienced workers and the loss of their valuable knowledge. Chad suggests that AI could be a solution to capture and retain this knowledge, but it must be implemented carefully to avoid security risks.
Reflecting on his career, Chad notes that successful aftermarket service providers distinguish themselves through a deep understanding of their market, strong customer relationships, and meticulous attention to detail. Mastery of data and detailed knowledge builds credibility and trust with customers, which are crucial for long-term success.
For those beginning their careers, Chad advises being curious, open to new opportunities, and willing to embrace uncomfortable challenges. He believes that while luck plays a role, sustained success is driven by hard work and making the most of opportunities.
The conversation concludes with a reflection on the balance between luck and personal effort in achieving career success. Chad's journey illustrates that while initial breaks may come by chance, sustained success results from hard work, attention to detail, and maintaining strong customer relationships.
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi interviews Paul Wolf (Director of Customer Service) from R.A. Jones, Coesia about his journey in the Customer service domain of the Industrial OEM industry. While talking about his journey, Paul passionately underscores RA Jones's commitment to a customer-centric approach, emphasizing the proactive understanding and anticipation of customer needs. This strategy not only fosters enduring client relationships but also elevates satisfaction and loyalty levels.
Moving into training methodologies, Paul discusses the pivotal shift away from traditional classroom settings to interactive, video-based learning tools. This adaptation aligns with industry-wide digitalization trends, prioritizing swift information retrieval and efficient problem-solving. He addresses the challenges posed by a shifting workforce, particularly among younger generations who favor accessing information over retaining it. Paul highlights the critical role of knowledge management in transferring expertise from seasoned veterans to new hires, stressing the importance of capturing and standardizing knowledge effectively. Moreover, he emphasizes R.A. Jones Coesia's global approach to service, maintaining a delicate balance between standardized practices and localized adaptations to ensure consistent and effective support worldwide. Throughout, Paul underscores the significance of continuous customer feedback in refining service delivery, ensuring R.A. Jones Coesia remains agile and responsive to evolving customer needs and technological advancements in the industry.
In this insightful episode, we engage with Jayesh Bafna (VP and GM - Aftermarket and Services at Komline Group), a veteran in the Industrial Aftermarket industry, who recounts his professional journey from Cummins, a large and well-resourced company, to Komline, a smaller, more agile organization. Jayesh explores the challenges and opportunities of this transition, emphasizing the need for consistent processes across business units and the integration of best practices in pricing and services.
Jayesh underscores the crucial role of the aftermarket in fostering customer loyalty and enhancing profitability. He reflects on how long-term customer relationships and experiences are built over decades, long after the initial sale, highlighting the enduring engagement aftermarket professionals maintain with their customers.
Drawing on his extensive experience, Jayesh compares working in public versus private companies, discussing how each environment influences expectations and operational strategies. He shares how limited resources can drive innovation and adaptability, a lesson he learned from his upbringing in Mumbai.
Throughout the conversation, Jayesh attributes his success to a blend of luck, supportive mentors, and a deep passion for his work. He stresses the importance of continuous learning and the value of being surrounded by intelligent, motivated individuals.
This episode offers a comprehensive look into the Industrial Aftermarket industry, providing valuable insights into customer loyalty, operational efficiency, and the advantages of working in diverse business environments. Tune in to learn how to achieve aftermarket success from one of the industry’s most experienced professionals.
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi interviews Bridgett Rousselle, Global Lifecycle Business Automation Leader at Xylem. Bridgett delves into the pivotal role of service and aftermarket solutions within the water industry, emphasizing their significance throughout the customer journey. She highlights the necessity for seamless collaboration across different functions within a company to ensure comprehensive service delivery that meets and exceeds customer expectations. Bridgett also explores the essential mindset required for achieving service excellence, advocating for innovation, customer-centricity, and a culture of continuous improvement. Drawing from her global experience, she underscores the importance of balancing global strategies with an acute awareness of local nuances, enabling companies to adapt their services effectively across diverse markets. Throughout the conversation, Bridgett stresses the importance of ongoing learning and development within the industry. She emphasizes continuous education as essential for staying ahead of industry trends and evolving customer needs, driving innovation and sustainable growth. Bridgett concludes by highlighting the transformative impact of a proactive mindset and collaborative approach in establishing leadership in service provision. She encourages industry professionals to embrace change, foster internal cohesion, and prioritize customer-centric strategies to achieve and maintain success in the dynamic water industry landscape.
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi interviews Jonathan Weiner, former CEO of Hayward Gordon. John shares his background in corporate America and his time working in Asia, highlighting the importance of long-term relationships and customer satisfaction. He discusses the challenges of selling capital equipment and the opportunities in the aftermarket, explaining how Hayward Gordon implemented a separate sales organization for aftermarket sales and focused on building customer relationships. Throughout the conversation, Jonathan emphasizes the importance of change management and continuous investment in employee skills to thrive in the aftermarket industry. He further explains the pivotal role these elements play in sustaining growth and innovation. The episode concludes with a discussion on the role of private equity in the aftermarket industry. John discusses the importance of building relationships internally and externally, the value of aftermarket business, and the lessons he has learned throughout his career. Jonathan emphasizes the need for change management when implementing new strategies and the importance of listening and understanding the needs of others, highlighting the role of luck and opportunity in his success. Join us as we explore John Weiner's insights into the aftermarket industry, gaining valuable lessons and strategies for success in this dynamic field.
In this episode of Aftermarket Champions, Vivek Joshi, the host of the podcast, engages in a discussion with Bella Abram, a key figure at Baker Hughes Bentley, Nevada. Bella shares her career journey, from starting as an electrical engineer in Brazil to her current role as a Growth Sales Manager in Europe.
In this insightful conversation, Vivek and Bella explore Bella's transition from sales to service and back to sales, emphasizing the importance of data-driven insights in aftermarket success. They discuss how Bella's leadership has revamped the install-based growth strategy at Baker Hughes, using tools like Entytle to drive global campaigns and inform strategic decisions.
Get your hands on essential insights into navigating the aftermarket landscape and the key attributes of a successful mindset in sales and service. Whether you're a seasoned industry veteran or new to the scene, this episode offers valuable wisdom for thriving in the dynamic aftermarket services sector.
Follow Bella's journey from product development to leading sales initiatives across Europe, driven by her dedication to innovation and progress. Through candid anecdotes and reflections, Bella provides actionable strategies for success in the ever-evolving world of aftermarket sales and service. Tune in to know Bella's secrets to success and maximize your aftermarket journey.
Welcome back to the first episode of season 2 of the Aftermarket Champions Podcast, hosted by Vivek Joshi, CEO of Entytle! We're thrilled to have Carla Wynter, the VP of Global Parts and Services at Johnson Controls, join us for an engaging conversation. Carla shares her remarkable journey through the world of logistics, manufacturing, and technical services. As Carla reflects on her career, she unveils a tapestry of experiences, from her days at FedEx to her pivotal roles at Webvan, GE, and now Johnson Controls. Each chapter reveals insights into managing diverse teams and driving aftermarket success. Throughout our discussion, Carla underscores the importance of people-centered leadership and the transformative power of technology in shaping customer experiences. With anecdotes from her tenure at leading organizations, Carla paints a vivid picture of the evolving landscape of aftermarket services. Listeners will uncover valuable lessons on organizational maturity, from reactive approaches to predictive and proactive strategies. Carla dives into the nuances of assessing capabilities and aligning with industry standards for sustained growth. But it doesn't stop there. Carla generously shares her wisdom, offering practical advice for aspiring leaders in the aftermarket and service sectors. From the art of networking to the essence of team dynamics, Carla's words resonate as a guiding light in a dynamic industry. Join us as we embark on a journey with Carla Wynter, exploring the road to aftermarket excellence and uncovering invaluable insights along the way.
In this episode of the Aftermarket Champions Podcast, host Vivek Joshi engages in a dynamic conversation with industry veteran David Hart, Managing Partner at Field Service Associates Ltd. The focus is on the transformative journey of service organizations, highlighting the shift from a necessary function to a lucrative profit center.
David shares valuable insights into the changing role of service leaders, emphasizing the need for a sales-centric approach. The conversation delves into challenges encountered by service leaders. These include prolonged sales cycles and the growing involvement of CFOs and COOs in decision-making. Field Service Learning emerges as a crucial element for all stakeholders, as he discusses the significance of educating people involved in transforming industry perception.
Exploring emerging trends in the field service market, particularly in manufacturing, David discusses the evolving personas of VP of Service roles and CEOs' awareness of untapped potential in aftermarket services. Workforce challenges and technological solutions, including IoT, are addressed.
David offers practical advice for CEOs, emphasizing the importance of a quick return on investment and advocating for seamlessly integrated SaaS solutions. The episode concludes with a forward-looking perspective on the future of service organizations, highlighting their pivotal role in enhancing business profitability and success.
This episode is a comprehensive guide for companies navigating the transformation journey in the field service market, providing strategic insights for success in a dynamic corporate landscape.
Join us in this insightful podcast episode as we engage in a dynamic conversation with Scott Frew, the CEO of iasset.com, a leading player in the technology solutions space. Scott shares valuable insights into the challenges and opportunities within the industry, emphasizing the ever-growing impact of technology across various sectors. Scott discusses the rapid evolution of the tech landscape, recounting his experiences over the past 15 years and shedding light on the industry's shift towards automation and recurring revenue models. The conversation delves into iasset.com's innovative approach, particularly its commitment to leveraging AI and copilot technology, operating on a robust Azure backplane. As the discussion unfolds, Scott reveals iasset.com's strategic vision, detailing ongoing technological advancements, including the upgrading of mapping algorithms. The CEO provides a glimpse into their current deployments, showcasing transformative projects with major security distributors. Throughout the conversation, a recurring theme emerges the imperative to automate every facet of their operations. The podcast concludes with reflections on the broader technological trends, drawing parallels between the challenges faced in the tech industry and other sectors. Scott shares his pragmatic outlook on the future, underscoring the importance of adapting to the ever-changing landscape. Tune in for a compelling dialogue that explores the nuances of the technology business, offering valuable insights into iasset.com's journey, market trends, and the relentless pursuit of operational efficiency.
In this podcast episode, Vivek hosts Prateek Chakravarty, CEO of Zinier, a field services management software company. Prateek shares his journey from being a field service engineer in the oil and gas industry to leading Zinier. The conversation delves into Pratik's background, the challenges faced in field service roles, and the evolution of the field service industry.
Prateek's narrative takes a significant turn as we delve into his experiences in the field, notably during his stint in Siberia—an area renowned for its challenging conditions. These pivotal experiences profoundly impacted Prateek's mindset, offering invaluable insights into the complexities of field service roles. His time in utilities further enriched his perspective, providing firsthand knowledge of the intricacies involved in managing diverse assets and addressing unique challenges within the energy sector.
Prateek emphasizes the need to bring innovation to the field and make blue-collar jobs attractive again. Zinier's platform focuses on field service automation, catering to companies with distributed assets and workforces. The flexibility of their platform allows for customizable workflows and efficient scheduling, addressing the common challenges across industries.
The discussion explores Zinier's role in empowering the field workforce and bridging the technology gap. Prateek highlights the importance of adapting to changing business scenarios and the company's consultative approach in working with clients from various sectors, including telecom, energy, and manufacturing.
As the conversation shifts to the manufacturing sector, Prateek discusses the concept of servitization and its impact on optimizing workforce management. The podcast concludes with insights into the evolving landscape of customer relationships, where a proactive and consultative approach is key, especially with the generational shift in leadership.
In this episode, Siddharth Madhav, Managing President at Fernweh Group, delves into accelerating industrial tech performance. Siddharth's journey from McKinsey expanded his expertise beyond economics, focusing on accelerated performance transformation of large industrial companies.
Siddharth highlights that Aftermarket growth is at the top of the list to make the Accelerated performance transformation for industrials due to its high profit margins and recurring revenue nature. Industrials can truly understand the value of Aftermarket Success by doing the following: 1) Be granular in understanding true aftermarket potential 2) Aftermarket revenue cannot be an afterthought 3) Setting up the right incentive model to drive aftermarket sales Moreover, Siddharth stresses robust process and change management as essential components for sustainable industrial transformation. Fernweh's approach centers on collaborative partnerships, fostering deeper relationships rather than purely advisory roles.
He emphasizes the necessity of understanding nuanced aftermarket intricacies and engaging operational forces within industries for successful growth. Siddharth's guidance for independent industrial players includes adaptation, unconventional thinking, and strategic aftermarket structuring. His advice to newcomers includes selecting mentors wisely, understanding personal skill sets, and embracing responsibility for recognition.
Siddharth advocates prioritizing aftermarket growth across industries, underlining the significance of a customer-centric approach for navigating successful industrial transformations.
In this episode of Aftermarket Champions Podcast, our host, Vivek Joshi, chats with Tony Black, President of Service at Husky Injection Molding Systems, a leader in injection molding technology. Tony's diverse career path, starting with his education in marine engineering, to starting his career in aerospace to a business degree and a 30-year tenure at United Technologies, led him to Husky in 2020. He began as a service mechanic and progressed to service sales and installation build operations, shaping his customer-centric approach. He stresses the enduring value of strong customer relationships and delivering on promises. Tony also addresses industry challenges, particularly the shortage of skilled employees. Husky's response to this challenge is Advantage+Elite, a connected solution that gives analytics and dashboards to its customers about their equipment. They also have established a process of having dedicated customer success managers for each service contract. The solution also provides insights that give a comprehensive understanding of product creation, adding significant value for the customer. While sharing his learnings from his long tenure at OTIS, he emphasized on the importance of the on-ground service technicians. Technology and people will have to go hand in hand to bring about successful transformation. Tony also explained what being “Global” really means. Listen to the full podcast to know what it really means. Tony's advice: Put yourself in the customer's shoes, feel what they feel, and understand their perspective. This episode is essential for those seeking success through a customer-centric approach in the service industry.
