Moving from Product to Product-as-a-Service

Product-as-a-Service (PaaS) is a business model that allows customers to purchase a desired result rather than the equipment that delivers that result. For example, a manufacturing operation may need to have two pieces of metal welded together. In the traditional purchasing model, the manufacturer would buy a welding robot. In the PaaS model, the company would purchase a certain number of welding operations, not the robot itself—in effect, paying for repetitions instead of robots. This mod…

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