Critical point of product service system

FAS-115DG The Product Service system (PSS) model has been adopted for many years, but as with iot, many manufacturers are hesitant about the risk and investment required. While this is a transformational change, moving to a more customer – and service-focused PSS model has many advantages, including recurring revenue streams and enhanced customer relationships. But perhaps most convincing for manufacturers is the extended producer responsibility (EPR) for high-value assets included in the CSRD. The EPR holds manufacturers accountable for the entire life cycle of their products, which means they need to find ways to reduce the use of materials, increase the reusability and recyclability of their products, and improve waste management.

Product service systems incentivize manufacturers to make FAS-115DG products more modular and repairable, extend product life through service, and prioritize refurbishment, remanufacturing, and responsible end-of-life management. This alignment between the PSS model, circularity and predictable revenue makes PSS a key strategy for achieving the Sustainable Development Goals outlined in the CSRD.

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conclusion

China is a manufacturing country, but also a manufacturing power. One of the most important points is the understanding of Chinese enterprises for sustainable development strategy. As Liu Qiang, Global Senior Vice President and President of Greater FAS-115DG China at PTC, said: “Chinese industrial enterprises attach more importance to sustainable development strategies than many similar enterprises in the world. Therefore, in 2024, Chinese enterprises will set off a new revolution in how to use digital technologies to transform sustainable development strategies into concrete strategies and methods that can be implemented. This will give Chinese industrial enterprises a truly viable and competitive future.”

In 2024, government regulations, technological advances and consumer FAS-115DG pressure will come together in due course. Will this be the year those empty promises turn into action? We will wait and see, but judging from the current situation of discrete manufacturing, the prospects for sustainable development are bright.