Internet of Things and industrial service supply chains

Internet of Things (IoT) have been recognized as one of the main trends shaping today the industrial economy. Earlier products composed solely of mechanical and electrical parts, now products have become complex systems that combine hardware, sensors, data storage, microprocessors, software, and connectivity. These "smart, connected products" are disrupting value chains, forcing companies to rethink nearly everything they do. IoT creates huge opportunities for managing product performance, utilization, and uptime, and how products work with related products in broader systems. Then the industrial service business could have completely new forms. The purpose of this paper is to analyze the meaning of IoT for the industrial service supply chains