Internet of Things-enabled circular product innovation: a Product-Service System perspective
Sprache des Vortragstitels:
XXVIII ISPIM Innovation Conference: Composing the Innovation Symphony
Sprache des Tagungstitel:
The adoption of state-of-the-art Internet of Things technologies brings about a new set of opportunities for implementing a circular economy that drives product life cycle towards new value creation configurations. The capabilities of smart products allow for the implementation of feedback-rich systems and repair, remanufacturing, or recycling activities along the whole value chain, which enable the development of novel business models and product-service systems. However, the current body of literature does not address the changes in product life cycle nor the transition to product-service systems due to the emergence of the Internet of Things. Therefore, this work aims at understanding the role of the Internet of Things and smart capabilities in developing circular products, with a focus on product-service systems and business models through an interdisciplinary literature review. This work would extend the current knowledge on business model innovation and portray new avenues for a successful implementation of product-service systems.