Servitization and the Business Model of Cyber-Physical Networks in the Context of Personalized Production
Purpose: The paper's aim is to identify the need to focus small and medium enterprises on the servitization of industrial production and cooperation within cyber-physical networks. The objective of the conducted research was the analysis of the expectations of the modern customers and the challenges of the Industry 4.0 environment in the industrial sector. Design/Methodology/Approach: The study was conducted using a survey questionnaire distributed to potential customers representing the Silesian, Lower Silesia, Greater Poland, and Lubuskie voivodeship in Poland. The survey was performed using the CAWI method (standardized computer-based internet interview). The research tool consisted of 25 questions (closed, complex, filtering, conditional, and tabular). During the survey conducted in 2019 - 2020, we obtained 504 opinions. Findings: Modern consumers are interested in personalizing products, increasingly expect products that will reflect their tastes, needs, adapt to their lifestyle, be unique, and at the price of a mass-produced product. Active participation in the designing and fabrication of products reduces the risk of unsuccessful sales. It contributes to improving the adaptation of the market offer to the current needs of consumers. Practical implications: The article indicates the critical directions of the development strategy of small and medium-sized manufacturing enterprises oriented to the needs of a modern customer. Modern enterprises should focus on implementing servitization strategy and business model of network collaboration using Industry 4.0 technologies. Originality/Value: The value of the paper is the presentation of the concept of the business model of cyber-physical networks taking into account the infusion of services and the growing demand for personalized products.