Business acronyms
XaaS Everything as a service
| Acronym | Meaning |
|---|---|
| Xaas | Everything as a Service |
| LAER | Land Adopt Expand Renew |
| TSIA | Technology & Services Industry Association |
| DISW | Digital Industries Software |
| PLM | Product Lifecycle Management |
| SaaS | Software as a Service |
| PDM | Product Data Management |
| BOM | Bill of Materials |
| MCAD | Mechanical Computer-Aided Design |
| EDA | Exploratory Data Analysis |
| ALA | Application Lifecycle Analysis |
| MOM | Manufacturing Operations Management |
| LOD | Level of Detail |
| APAC | Asia-Pacific |
| EMEA | Europe, Middle East, Africa |
| CTO | Configure To Order |
| ETO | Engineer To Order |
| MTS | Make To Stock |
| MTO | Make To Order |
Servitization[1]Edit
Servitization refers to industries using their products to sell "outcome as a service" rather than a one-off sale. Netflix and Spotify are probably the most well-known example of this, delivering media as a service, rather than customers buying the CDs, DVDs et cetera that produce those outcomes.
Manufacturing businesses can offer additional services to supplement their traditional products such as maintenance, keeping a fleet of vehicles on the road as a service. Servitization is usually a subscription model and can be applied to most industries in one way or another.
This developed out of the necessity for businesses to remain profitable and competitive in an age where the financial aspects of design and manufacturing are becoming increasingly challenged by emerging markets and the life-cycle of manufactured products increases and the technology which develops them improves products are tending to need replacing less frequently. The need to include additional services including consultancy, all aim to improve the performance and profitability of a company.