Internet of Things and Original Design Manufacturing Business Model: Case Study of COSMAX

Abstract

As digital technologies continue to pervade all aspects of life, a number of industries including traditional industries have begun to adopt digital technologies such as Internet of Things (IoT) and Artificial Intelligence (AI). In this article, we analyze the case of COSMAX, a global cosmetics ODM business model company. Conducting interviews with top executives we examine how it responds to the fourth industrial revolution such as IoT and AI Since 2014, COSMAX has been introducing the strategic themes such as "Innovativeness", "Simplicity", and "Industry No. 1". It pursues strategies to achieve creativity, speed, flexibility and fusion to cope with the fourth industrial revolution challenges and opportunities.