Harvard Case - INTARTIC: Riding the IoT Wave to a Service Model
"INTARTIC: Riding the IoT Wave to a Service Model" Harvard business case study is written by Anshuman Tripathy, Pranav Guglani, Abhijit S Pulimootil. It deals with the challenges in the field of Information Technology. The case study is 16 page(s) long and it was first published on : Dec 3, 2020
At Fern Fort University, we recommend that INTARTIC embrace a digital transformation strategy focused on leveraging the Internet of Things (IoT) to transition from a product-centric model to a service-oriented business model. This involves a multi-faceted approach encompassing IT infrastructure upgrades, data analytics capabilities, cybersecurity enhancements, and a robust customer relationship management (CRM) system. This transformation will enable INTARTIC to offer value-added services based on real-time data insights, enhance customer engagement, and establish a competitive advantage in the evolving market.
2. Background
INTARTIC is a leading manufacturer of industrial refrigeration systems, facing increasing competition and a shift in customer demand towards service-oriented solutions. The company recognizes the potential of IoT to enhance its offerings and create new revenue streams. However, INTARTIC faces challenges in terms of IT infrastructure, data management, and organizational change. The case study focuses on the company's decision to adopt a digital transformation strategy and the challenges associated with its implementation.
The key protagonists in the case are:
- Janis Peterson: INTARTIC's CEO, who is driving the company's digital transformation.
- Peter Hansen: INTARTIC's CIO, responsible for leading the IT infrastructure and technology implementation.
- Maria Sanchez: INTARTIC's Chief Marketing Officer, responsible for developing the customer relationship management strategy.
3. Analysis of the Case Study
To analyze INTARTIC's situation, we can utilize the Porter's Five Forces Framework to understand the competitive landscape and identify potential opportunities.
- Threat of New Entrants: The refrigeration industry is characterized by high barriers to entry due to capital-intensive manufacturing processes and stringent regulatory requirements. However, the emergence of start-ups with innovative IoT solutions poses a potential threat.
- Bargaining Power of Buyers: Customers are increasingly demanding value-added services and remote monitoring capabilities. This gives them significant bargaining power, potentially leading to price pressure on INTARTIC.
- Bargaining Power of Suppliers: INTARTIC relies on a diverse range of suppliers for components and raw materials. The bargaining power of suppliers is moderate, but potential disruptions in the supply chain could impact operations.
- Threat of Substitute Products: Alternative cooling technologies, such as renewable energy solutions, are emerging as potential substitutes. While these technologies are not yet widely adopted, they represent a long-term threat.
- Competitive Rivalry: The refrigeration industry is highly competitive, with established players like INTARTIC facing pressure from both domestic and international competitors.
INTARTIC's digital transformation strategy presents an opportunity to address these competitive challenges by:
- Differentiation: Offering value-added services based on IoT data insights can differentiate INTARTIC from competitors and enhance customer loyalty.
- Cost Reduction: Optimizing manufacturing processes and supply chain management through data-driven decision making can lead to cost savings.
- New Revenue Streams: Developing service-oriented business models based on IoT data can generate new revenue streams and enhance profitability.
4. Recommendations
INTARTIC should implement a multi-phased approach to its digital transformation strategy, focusing on the following key areas:
Phase 1: Foundation Building (6-12 months)
- IT Infrastructure Upgrade: Invest in modernizing IT infrastructure to support IoT data collection, processing, and analysis. This includes:
- Cloud computing: Migrate critical systems to the cloud to enhance scalability, flexibility, and cost-efficiency.
- Network architecture: Upgrade network infrastructure to handle increased data traffic and ensure secure data transmission.
- Data management: Implement a robust data management system to collect, store, and process IoT data from refrigeration systems.
- Cybersecurity Enhancement: Implement comprehensive cybersecurity measures to protect sensitive data and ensure the integrity of IoT systems.
- Data Analytics Capabilities: Develop data analytics capabilities to extract valuable insights from IoT data. This includes:
- Big data management: Implement tools and techniques to manage and analyze large volumes of IoT data.
- AI and machine learning: Utilize AI and machine learning algorithms to identify patterns, predict equipment failures, and optimize system performance.
- Customer Relationship Management (CRM) System: Implement a robust CRM system to manage customer interactions, track service requests, and provide personalized support.
Phase 2: Service Development and Deployment (12-24 months)
- Develop Value-Added Services: Leverage IoT data to develop value-added services that enhance customer experience and drive revenue. This includes:
- Predictive maintenance: Utilize AI and machine learning to predict equipment failures and schedule proactive maintenance, minimizing downtime and reducing costs.
- Remote monitoring: Provide customers with real-time access to their refrigeration system performance through a user-friendly interface.
- Energy optimization: Analyze data to identify opportunities for energy savings and optimize system efficiency.
- Marketing and Sales Strategy: Develop a targeted marketing strategy to promote IoT-enabled services to existing and potential customers.
- Customer Training and Support: Provide comprehensive training and support to customers on how to use IoT-enabled services effectively.
Phase 3: Continuous Improvement and Expansion (Ongoing)
- Data-Driven Decision Making: Foster a culture of data-driven decision making throughout the organization, using business intelligence to guide strategic decisions.
- Innovation and Development: Continuously invest in research and development to explore new IoT applications and enhance existing services.
- International Expansion: Explore opportunities to expand into new markets through globalization and international business strategies.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: INTARTIC's core competency lies in refrigeration technology. Leveraging IoT to enhance its product offerings and provide value-added services aligns with its mission to deliver innovative and reliable solutions.
- External Customers and Internal Clients: The recommendations address the evolving needs of customers who are demanding service-oriented solutions and remote monitoring capabilities. They also cater to the needs of internal clients, such as sales and service teams, by providing them with access to real-time data and insights.
- Competitors: INTARTIC's competitors are increasingly adopting IoT technologies. By implementing a comprehensive digital transformation strategy, INTARTIC can establish a competitive advantage and differentiate itself from rivals.
- Attractiveness: The recommendations are expected to generate significant returns on investment through increased efficiency, reduced costs, and new revenue streams. The IoT market is rapidly growing, presenting a significant opportunity for INTARTIC to capture market share and expand its business.
6. Conclusion
INTARTIC's transition to a service-oriented business model through the adoption of IoT technologies presents a significant opportunity for growth and competitive advantage. By implementing a well-defined digital transformation strategy, INTARTIC can enhance its product offerings, improve customer experience, and establish itself as a leader in the evolving refrigeration market.
7. Discussion
Alternative approaches to INTARTIC's digital transformation include:
- Outsourcing: INTARTIC could consider outsourcing some aspects of its IT infrastructure or data analytics capabilities to specialized providers. This could offer cost savings and access to expertise, but it also raises concerns about data security and control.
- Incremental Approach: INTARTIC could adopt a more incremental approach to digital transformation, focusing on implementing IoT solutions in specific areas of its business first. This approach might be less risky but could also lead to slower progress and missed opportunities.
Key assumptions underlying the recommendations include:
- Customer Demand: The assumption is that customers will be receptive to IoT-enabled services and willing to pay a premium for them.
- Technology Adoption: The recommendations assume that IoT technologies will continue to evolve and become more affordable and accessible.
- Organizational Change: The success of the digital transformation depends on the organization's ability to adapt to new technologies and processes.
8. Next Steps
INTARTIC should establish a dedicated project team to oversee the implementation of its digital transformation strategy. The team should develop a detailed project plan outlining key milestones, timelines, and resource allocation. The following steps should be prioritized:
- Phase 1: Complete the IT infrastructure upgrade within 6-12 months, focusing on cloud migration, network enhancements, and data management systems.
- Phase 2: Develop and deploy value-added services based on IoT data within 12-24 months, prioritizing predictive maintenance, remote monitoring, and energy optimization solutions.
- Phase 3: Continuously invest in innovation, data-driven decision making, and international expansion to maintain a competitive edge.
By taking these steps, INTARTIC can successfully ride the IoT wave and transform its business into a leading provider of service-oriented solutions in the refrigeration industry.
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Case Description
Intartic, an Indian mobile accessories manufacturer was incorporated in 2015 by two ex-colleagues from Nokia who sought to explore the mobile phone accessory market in India, building initially on designs, parts and components imported from China. The case traces the evolution of Intartic and the various challenges it faces as it transitions from the mobile accessories business to the IoT-based safety wearables business. The case involves the study of technology management processes followed within the company and the imminent decision on the organizational and structural changes amid the changing business contexts and aspiration of the company. Starting by outlining the overall environment of the mobile accessories industry in India, the case introduces readers to the events leading to organizational change and transformation in ownership of assets by the corporate leadership. The case captures the transition of Intartic, from a commoditized mobile accessories manufacturer to a technologically challenging space of IoT-based safety wearables market. It also essays Intartic's vision to segue into the service business of developing software IP for a connected ecosystem across wearables, connected homes and automobiles, along with the challenges that it is likely to face in its transition and its potential solutions. This transition provides scope for learning various aspects of organizational development such as building organizational and technology capability, creating processes, managing portfolio of varied product development projects, and also educates readers about the evolving investor ecosystem.
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