MANAGING in the

NEW WORLD

Newer opportunities are being created in the service areas thanks to the imprint of disruptive technologies and advanced business analytics. There are four major areas where this is getting used to improve service quality. These are in the areas of- remote monitoring, predictive maintenance, planned maintenance and in upstream & remote resolution. To optimize field productivity, companies need to have flexible talent management practices. Likewise, their dispatch optimization needs to be dynamic. The use of next- generation diagnostics needs to be made. Futuristic performance management techniques need be put in use. Those companies that are trying to optimize its parts management, need to work on their predictive demand forecasting. An area they have to resolve is the logistics and network management. The parts pricing too needs to be dynamic. A real- time inventory and depot for virtual parts has to be separately maintained. Digital self- service applications need to be at the heart of those aiming to deliver the best customer experience. People retention and attrition needs to be looked at very closely. To start off, one must find simple solutions rather than straight away trying to solve the most complex ones. The digital and analytics capabilities need to ramped up at first. The firm’s commercial strategy needs to get aligned across functions such as sales, tech and marketing.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/how-disruptive-technologies-are-opening-up-innovative-opportunities-in-services

Uploaded Date:10 January 2019 

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