Dynamics of assortment
It is well known that the lineup of companies is usually dynamic. While some elements are removed from the active assortment, others enter it. Making a correct phase in and phase out becomes vital when it comes to avoiding inventory obsolescence. Estimates of new products may only be a statement of intent and plans will not necessarily be met. If all the intervening parties of the company work together, it will be easier to evaluate the results obtained. In this way, generate learning curves that are the engine of an improvement in the prevention of inventory obsolescence when managing the introduction of new items.
Anyway, this does not mean that you cannot effectively make proactive management in the prevention of inventory obsolescence: if you have the right systems to obtain visibility regarding the status of the inventory and is complemented with a functional performance analysis, from the sale of new items, alarms can be triggered that allow reacting as soon as possible to a probable risk of obsolescence and, at the same time, prevent the problem from growing and growing …
Are there formal mechanisms for evaluating the performance of new products in your company?
Who determines the forecast of a release and the amount of the first purchase?