Product-Service Systems in a manufacturing company strategy - a review paper

Fierce competition among entrepreneurs, the process of global economy servicization and increasing customer demands force manufacturers to introduce new business models and new solutions such as Product-Service Systems (PSS). In this paper, the Product-Service Systems concept is reviewed, on the basis of the latest academic literature. The classification of PSS types is also presented. Benefits that accrue from systems of integrated products and services implementation, as well as barriers and challenges that a manufacturing company faces in this process, are indicated. The successfully applied Product-Service Systems in industrial sector firms at global market are also presented. The author made a review of research that have been conducted in recent years in many academic institutes worldwide.