Status review and future perspectives on the framework of Smart Product Service Ecosystem

The transformation to service economy and rapid development of smart technologies have greatly changed traditional commodity trading based business models. There is an irresistible trend developing to the new business paradigm of Smart Product Service Ecosystem (SPSE), which integrates value co-creation network, service ecological thinking and Information & Communication Technologies (ICT). A conceptual framework of SPSE is proposed, covering the study on its definition, characters, components, mutual interactions and development roadmap. Business model innovations of SPSE are analysed from three aspects, including interaction modes, resource allocation principles and cooperation mechanisms. First, smart interactions offer new approaches and opportunities for manifest customer demand acquiring and implicit demand reasoning. Then, the dynamic sharing resource pool is introduced for service resource allocation optimization. The integration of distributed layout and centralized management and scheduling of resources will significantly reduce operation costs, improve resource utilization efficiency, and accelerate service response speed. Last, cooperative mechanisms will be developed based on risk sharing, ecological diversification and node association multi-polarization, to achieve a win-win situation and improve the stability, reliability and competitiveness of SPSE. The proposed theory is expected to offer possible guidelines and roadmaps for those transforming and emerging industries. (C) 2017 The Authors. Published by Elsevier B.V.