New company and customers, relationship should be maintained in

NewBusiness models A smart factory canonly be smart if business process is also smart. Business models focus on valuecreation for stakeholders and also for activities performed outside company forsay suppliers and customers. New business models should be based onproducts/services, core competencies, partners/stakeholders customers, revenuemodel, cost model, Relationship, delivery medium. The heart of businessmodel is formed with products or services offered to the customers. The corecompetencies are those which add values to product/services and also pop it outof the crowd.

Partners/stakeholders add value and provide support to theproduct/service.  Customers represent asingle individual or a group of individuals sometimes even companies. Revenuemodel and cost model gives an overall view on financial aspects. Relationshipis like a building block between company and customers, relationship should bemaintained in order for company to gain confidence in the target market andalso increase in sales. Delivery medium represents more like marketing, how itpresents itself to the customers.Business model logic isto create a unique mixture of resources and activities; the next step is tofind a efficient way of structuring the transaction between company and itssuppliers, partners and customers. Business models shouldprimarily be seen as analytical tools or frameworks that are suitable for therecognition of challenges and opportunities new technologies, as well as theidentification of capabilities required to gain economic value from them.

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Atthe end of the day manufactures should create a business models so that smalllot batch have more significant advantage over the batch size of one. Forexample assume if a company creates a lot size of one to reduce setup time butthat doesn’t mean lead time is really reduced, customers are waiting for theproducts. So a efficient managers should develop a model which should integratedata from past and future scenario and develop model according to it