The next industrial revolution: Integrated services and goods

Research output: Contribution to journalArticle

32 Scopus citations

Abstract

The outputs or products of an economy can be divided into services products and goods products (due to manufacturing, construction, agriculture and mining). To date, the services and goods products have, for the most part, been separately mass produced. However, in contrast to the first and second industrial revolutions which respectively focused on the development and the mass production of goods, the next - or third - industrial revolution is focused on the integration of services and/or goods; it is beginning in this second decade of the 21st Century. The Third Industrial Revolution (TIR) is based on the confluence of three major technological enablers (i. e., big data analytics, adaptive services and digital manufacturing); they underpin the integration or mass customization of services and/or goods. As detailed in an earlier paper, we regard mass customization as the simultaneous and real-time management of supply and demand chains, based on a taxonomy that can be defined in terms of its underpinning component and management foci. The benefits of real-time mass customization cannot be over-stated as goods and services become indistinguishable and are co-produced - as "servgoods" - in real-time, resulting in an overwhelming economic advantage to the industrialized countries where the consuming customers are at the same time the co-producing producers.

Original languageEnglish (US)
Pages (from-to)257-296
Number of pages40
JournalJournal of Systems Science and Systems Engineering
Volume21
Issue number3
DOIs
StatePublished - Sep 1 2012

Keywords

  • adaptive services
  • Big data
  • decision analytics
  • demand chain
  • digital manufacturing
  • goods
  • industrial revolution
  • mass customization
  • mass production
  • supply chain
  • value chain

ASJC Scopus subject areas

  • Information Systems
  • Control and Systems Engineering

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