Evolution of Servitised Circular Economy-Driven Models Within a Nascent Business Case Study

The significant effect of Industry 4.0 on global indicators such as climate, resource availability and energy-efficient production are well documented, spanning almost every conceivable area of consumption. The Ellen MacArthur Foundation posits efficiency can reduce energy and material use but resource consumption remains strongly coupled to economic growth. Industry 4.0 provisions for improvements in production through quality enhancements, increased productivity and more efficient utilisation of resources, both physical and human. Circular Economy (CE), Product Service Systems (PSS) and knowledge-based maintenance (KBM) approaches such as Prescriptive Maintenance are key pillars of Industry 4.0. To facilitate the delivery of a bespoke PSS, eclectic but complimentary strategies from Industry 4.0 can be called on, and digital services including Software as a Service (SaaS) and advanced manufacturing technologies are particularly relied on. The adoption of an overarching PSS approach does not guarantee CE aspirations or good practices are attainable, therefore implementation hurdles such as technological preparedness, availability of skilled application and deployment personnel, digital oversight and management are considered. This investigation considers a singular, although not atypical nascent case business wherein a Digital Servitisation (DS) approach was identified at an early stage as not only desirable but also critical. With the case business firmly in focus, this investigation explores the potentially transformative impact through the implementation of a DS strategy, incorporating the research community's perceived most appropriate Industry 4.0 technologies. The study considers the wider concepts of CE, illuminating the persistent interplay between CE and servitisation, why value retention is important and how it is potentially delivered through Industry 4.0 pillars of PSS, SaaS and KBM. The wider discussions will serve to inform a theory to-practice framework to support business planning during the early phases of development and towards product launch.

Name dc:type.qualificationname

msc

Level dc:type.qualificationlevel

masters

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2024

Author dc:creator

• Edwards, Thomas Joseph

• TS Diwydiannau

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:3086