SAP Enterprise Product Development (EPD) for Connected Products: Enabling Industry 4.0 for the Product Lifecycle

May 28, 10:30-11:30

Profit margins in the aftermarket services exceed often those for the manufacturers (OEMs). Therefore, the trend for OEMs is to extend activities towards this market. Commonly, OEMs own and control the design- and engineering models for their products; models that provide the perfect digital representation of the physical assets. They can therefore leverage these models for setting up new revenue streams and thanks to these, monetize on market shares in service and aftermarket.

EPD for connected products provides a cost-efficient way to generate digital twins by reuse of engineering models, IoT enabled with a feed of operational data. This opens for various new revenue streams for the OEMs: offer an owner/operator a digital twin together with the physical product, and give possibility to subscribe to unique insights into the condition and performance of the asset. The OEM may also tap into the operational data flow from the asset, better understand potential challenges or failures, and loop this back into the product development. Connected products’ digital twin will also facilitate an X-as-a-Service business model, serving as the basis for extended warranty services, predictive maintenance service offerings, spare parts logistics services and more.

Speakers:

Mateusz Graczyk, PhD (LinkedIn)
Area Product Owner
EPD Connected Products 
SAP