Assortment Management | 5 Steps to success
From deciding whether or not to stock a new product to determining how best to phase out an item at the end of the product life cycle, decisions around assortment management are often coupled with a high level of financial risk. As a result, such decisions should not be taken lightly. However, unless you have a complete understanding of how your decisions will impact other departments within the business, how can you be sure that you are adopting the right approach to manage the assortment?
As part of our 5 Steps to supply chain success series, we have put together an on-demand webinar exploring how you can encompass both the sales and wider supply chain team into the assortment decision making process. As part of this 30-minute video, we highlight how you can work with other business divisions in order to agree the best approach to introduce new products, review existing lines, and manage end of life items.
Ultimately, this concise presentation will enable you to start establishing more collaborative conversations around assortment management. Watch the video below to discover how you can work more effectively with S&OP leaders, category managers, supply and demand planners as well as the sales team to overcome the following challenges:
- Understand the benefit/potential cost of introducing a new item
- Agree upon the initial order quantity for a new item
- Establish appropriate measures to monitor the performance of new items
- Review recently added items and agree the best course of action: continue or cut
- Prevent obsolesce through analysing product life cycles and determining the best approach for managing end of life items
Watch the next webinar in our 5 Steps to Supply Chain Success series
Historic demand data is a critical source of information for assessing both the performance of a business as well as anticipating future demand. Given that this data will be used by a broad range of departments across the business to determine everything from future purchasing requirements to production plans, what does you demand history really mean? Can you explain why demand in a particular period is exceptionally higher or lower that what you had forecasted? More importantly, do you know how best to manage these exceptions?
Click the button below to watch the next video in the series as we as we explore how you can work more effectively with the sales, supply chain, operations and finance teams in order to gain a greater understanding of why exceptions in the demand history exist and how you can utilise insights from across the business to manage them.