How Can Large Manufacturers Digitalize Their Business Models? A Framework for Orchestrating Industrial Ecosystems

For manufacturers, remaining competitive depends on their ability to digitalize their business models (i.e., offer digital and digitally enhanced products and services). To achieve this, they must engage with new digital partners and help their existing suppliers, partners, and other stakeholders to digitalize. Orchestrating this growing ecosystem is challenging. Manufacturers struggle with this endeavor because of specific barriers associated with their existing legacy business model and related to their lack of digital vision, product-centric value chains, and a bias toward firm-centered profit formulas. To overcome these barriers, leading manufacturers have developed new approaches to ecosystem orchestration.

Automated summary

Manufacturers need to digitalize their business models, engage with new digital partners, and help existing partners in digitization to remain competitive in the market.