This week Syncron released its latest eBook, Build a Resilient Aftermarket Service Business, a comprehensive overview of the current state of aftermarket service, including optimization opportunities and strategies that can help manufacturers thrive in a state of economic uncertainty.
Using data and insights from 500 service and supply chain leaders across Europe and the United States in sectors such as construction and mining, automotive, agriculture, and industrial equipment, this study examines:
The current state of the aftermarket and broader macroeconomic factors that service organizations are working through.
Challenges in different processes in the service lifecycle
How service organizations are tackling these challenges
Future security and growth opportunities
“Factors such as economic uncertainty, supply chain volatility, labor shortages, and working capital costs impact the vast majority of service companies,” said Dr. Friedrich Neumeyer, CEO of Syncron. “However, service executives who understand the importance of parts optimization, parts pricing, and service lifecycle management can see significant benefits such as maximized margins, increased sustainability, better scalability, increased flexibility, and a superior customer experience.”
According to the study, almost all service organizations face challenges in parts optimization (99.8%), parts price optimization (99.6%), service lifecycle management (99.6%), and technician empowerment (100%).
Although the majority of service and supply chain leaders (60%) shared that their organizations use manual or custom solutions to manage these processes, 95% agree their organization would prefer a modular service lifecycle management solution that improved their current processes on the spot.
“This data confirms what we often hear from manufacturers who come to Syncron in search of a more advanced, streamlined solution,” continues Dr. Neumeyer continued. “Our goal is to empower service organizations with innovative, cutting-edge solutions that transform their approach to service lifecycle management from end to end.”