Five UK manufacturing SMEs have been recognised for their exceptional servitization efforts at the inaugural Servitization Business Awards.
The ceremony took place virtually as part of this year’s World Servitization Convention, which was run by the Advanced Services Group, part of Aston Business School. Held virtually as a consequence of COVID-19, the convention has been a deemed a huge success, with over 350 manufacturing businesses attending between September 14-16 to watch more than 30 interactive presentations from over 80 leading academics specialising in the transition from product-based business strategies towards service-based operations.
The virtual event concluded with the first ever Servitization Business Awards ceremony, which recognised businesses big and small from all sectors that have deployed the most effective servitization strategies.
The big winner was Hydac Technology, an electronics manufacturer based in Witney, which took away the ‘Overall Winner’ award for Best Digitally-Enhanced Services Offering. The company, which supplies fluid technology, hydraulic and electronic equipment all over the world, recently established a Virtual Fluid Lab which utilises advanced services to help customers determine the remaining service life of their filter elements, thus ensuring greater uptime and productivity.
Also honoured during the event was AE Aerospace, for its work in the UK’s Ventilator Challenge, a consortium of UK manufacturing businesses that came together to produce more than 14,000 ventilators during the height of the UK’s Coronavirus pandemic.
Software company Spica Technologies, electronics manufacturer Allsee Technologies and commercial printing specialist L G Davis were all honoured during the ceremony.
Speaking of the first ever Servitization Business Awards ceremony, Paula Cresswell, business engagement and programme director at The Advanced Services Group, part of Aston Business School which leads The SME Partnership, commented: “It was fantastic to see the UK manufacturing sector come together virtually for this year’s World Servitization Convention and to honour five manufacturers whose servitization strategies have truly enabled them to transform both their businesses and their supply chains.
“As the UK continues its economic recovery, manufacturing has a huge role to play and it will be those businesses that are able to quickly adopt new service-models and innovate, which will set the pace.”