Value of virtual prototyping – A strategic resource based view
Editor: Udo Lindemann, Srinivasan V, Yong Se Kim, Sang Won Lee, John Clarkson, Gaetano Cascini
Author: Leino, Simo-Pekka Sakari; Koivisto, Tapio; Riitahuhta, Asko
Institution: 1: VTT Technical Research Centre of Finland, Finland; 2: Tampere University of Technology, Finland
This conceptual paper proposes how business value of virtual prototyping (VP) could be modeled in the context of manufacturing industry and engineering design. The strategic resource based approach mapped data from industrial studies to public value theories and models in order to synthesize and model how technological features and benefits of VP could contribute to value creation and capture during a product-service value chain. In the model virtual prototyping is positioned as a strategic asset within value network and value shop configurations that have their own logic and processes related to value chains. The resource based strategic value of VP model emphasizes role of virtual prototyping as a media for better organizational knowledge creation and learning, which is today one of the essential competences of enterprises. In future the proposed model will be used as a reference in empirical studies. It will be iteratively improved and concretized in industrial strategy development projects. Aim is that VP business value modeling facilitates better adoption of VP, and reduces incredulous attitudes in manufacturing enterprises.