Product Life Cycles

While incorporating seasonality and trends are components to predicting future demand, certain industries like consumer goods, fashion and technology cannot rely on that alone. It’s also critical to incorporate product life cycle models so you can maximize your revenues throughout the entire product life cycle.

JustEnough’s Demand Forecasting solution:

• Uses historical data create product life cycle curves
• Develops a methodology for forecasting new product life cycles
• Designs pricing, discounting and inventory strategies for different life cycle stages

New Products
Ensure new product roll-outs are a success by superseding the historical data of similar products to create accurate new product forecasts. JustEnough even gives you the ability to phase out the old product or apply template product life cycle curves to manage these new products profiles.

Managing Life Cycles
With JustEnough, you can manage your products through complete life cycles so your inventory doesn’t become obsolete before it’s sold. Our Demand Planning solution lets you proactively manage the four stages of the product life cycle curve:

• Introduction to Market Stage: Forecast by superseding with historical data of similar products or applying a profile curve to facilitate the demand plan.
• Exponential Growth Stage: Attain correct stock levels by monitoring increases in demand through the forecast engine and aligning any shortcomings of current inventory levels.
• Product Maturity Stage: Ensure your products are well-stocked during the point when you need the highest service levels and product availability.
• Decline in Market Stage: Align a decrease in demand with inventory levels. Automated stocking policies manage the reduction of inventory levels based on actual forecasts.