Life Cycle Planning Features and Functions
Life cycle planning is becoming a more popular capability. Demand characteristics change over the life of a product and require close attention to demand patterns to ensure that markets are not starved during ramp-up nor supplied with excess in later stages. In addition, firms are frequently left with excess inventory during engineer change orders (ECOs) or other product changes as well as end-of-life, due to poor planning and visibility to demand cycles and communication of product phase-outs. Life cycle planning provides the ability to view sell-in and sell-through point of sale (POS) data and will recommend alternate curves based on early actual sales information.
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- Creates product life cycle phases to plan events, such as pilot, new product introduction, engineering change order, and end-of-life
- Identifies products with effectivity dates, shelf life, and perishability
- Integrates event planning activities, such as launch and promotion
- Creates and manages product families, product upgrades, and complementary offerings
- Sells targets for various phases of the product's life pricing, volumes, enhancements, or special packaging for geographic or demographic markets
- Models and correlates demand or consumption patterns to product life cycle phases by using pattern recognition or neural network types of technologies)
- Identifies causal factors in consumption patterns
- Product contains life cycle algorithms by industry for short to long life cycle products
- Uses sell-in and sell-through POS data in adjusting the life cycle curve for products without a history
- Compares and creates promotion plans for new product introductions and product phase-out markdowns
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Demand Management Features and Functions
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