To stock or not to stock
Product lifecycle management: 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. 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 product lifecycle management?
In this article, we explore how you can encompass both sales and the wider supply chain team into the product lifecycle decision making process.