In a rapidly evolving landscape for Industrial OEMs, Aftermarket leaders face new challenges that demand innovative solutions. Vivek Joshi, CEO of Entytle, shares his insights in his latest article for Forbes Council.
Previously before the digital transformation came into focus, aftermarket leaders enjoyed a comfortable existence with loyal customers and steady growth. However, shifting customer buying behavior, increased competition, and demands for higher margins have disrupted the status quo. Today, aftermarket leaders recognize that focusing on their installed base and harnessing the aftermarket potential is crucial for profitability.
In his article, Vivek Joshi introduces the “Aftermarket Growth Framework”, a simple yet powerful tool that assesses an organization’s readiness for proactive aftermarket sales. By evaluating leadership motivation and organizational maturity, OEMs can identify their strengths and areas for improvement, ensuring successful aftermarket initiatives. With the framework’s guidance, Industrial OEMs can benchmark their aftermarket maturity with the global leaders and can identify the areas to improve.
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