Product Lifecycles

In order to control inventory, you can classify products into different groups based on where that product is in it lifecycle as you define it, such as Dead Stock or New Lines.  For example, you can create a lifecycle titled 180 Days' Supply for products for which you are currently carrying 180 days supply.

Using this segmentation, helps further categorize your product file other than the standard stock or non-stock statuses. This extra label assists in tracking and disposing of material through the Product Lifecycle Queue. Product Lifecycles are user-defined and represent where a product is in its lifecycle.

For example:

After creating the lifecycles, the Product Lifecycle Build allows you to assign the product lifecycles you have created to each product. The build populates the Product Lifecycle Queue. From the queue users can select the products they want to see and have the option to change the product status and product lifecycle.

Additional matrix overrides can be set up based on the Product Lifecycle in Product Lifecycle Maintenance. For example, the override settings can let users change existing pricing in order to sell off dead inventory. Commission groups can be specified based on the product lifecycle which lets the sales people sell off the “dead stock” by giving them additional commission. The queue has additional options to return to vendor, transfer, and adjust inventory. All Product Lifecycle menus are under the Purchase menu.

See Also:

Creating Product Lifecycles