Product-service Systems
From Design+Encyclopedia, the free encyclopedia on good design, art, architecture, creativity, engineering and innovation.
Product-service Systems
Product-service Systems is a business model that integrates products and services to deliver value to customers in a more sustainable and efficient manner. This approach shifts the focus from selling physical products to providing a combination of tangible goods and intangible services that together fulfill a specific customer need or desire. In a Product-service System, the emphasis is on the functionality and performance of the offering rather than on the ownership of the product itself. This model encourages companies to design products that are durable, easy to maintain, and can be easily upgraded or recycled, as the revenue stream comes from the ongoing service provided rather than the one-time sale of the product. By retaining ownership of the products and being responsible for their maintenance, repair, and disposal, companies are incentivized to optimize resource use and minimize waste throughout the product lifecycle. Product-service Systems can take various forms, such as product leasing, sharing, or pay-per-use models, and have been applied in diverse sectors, including transportation, home appliances, and industrial equipment. The adoption of this model has the potential to drive innovation, improve resource efficiency, and contribute to the transition towards a more circular and sustainable economy.
product leasing, sharing economy, pay-per-use, circular economy, resource efficiency, sustainable business models
Product-service Systems on Design+Encyclopedia
We have 220,822 Topics and 478,829 Entries and Product-service Systems has 1 entries on Design+Encyclopedia. Design+Encyclopedia is a free encyclopedia, written collaboratively by designers, creators, artists, innovators and architects. Become a contributor and expand our knowledge on Product-service Systems today.