Question: how can we improve our product life-cycle management process? For example, our current approach does not differentiate between commodity and hard-to-find products. We need a
how can we improve our product life-cycle management process? For example, our current approach does not differentiate between commodity and hard-to-find products. We need a strategic approach to product management, supported by our supply chain strategy, as SKUs transition from commodity to hard-to-find categories. The combination of product offerings that spanned the technology life cycle, a broad SKU count, a strategy of high availability, and a consignment-based distribution model kept inventory management top of mind for Jeff. As revenues continued to grow, StarTechs supply chain strategy had to evolve to ensure high levels of product availability for end-users, to build on its relationship with distributors, and to simultaneously improve working capital utilization. Our objective is for sales to continue to grow at a faster rate than our investment in inventory, said Jeff. I know we can get better at how we manage our supply chain operations.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
