In the second stage of the S&OP process, we take a closer look at product planning and review. This is an important step in ensuring that your business is making sound decisions about its products. We’ll discuss the product review process, including brand strategy and portfolio planning, inputs and outputs, and who is involved in the decision-making process. We’ll also talk about product lifecycle management and how to ensure your products are successful in the market.
Inputs and outputs are a key part of product review. Inputs include customer feedback, market trends, competitive analysis, and product testing. Outputs include sales projections, pricing strategies, production schedules, and marketing plans. By understanding these factors, companies can create products that meet customer needs while maximizing
Product Portfolio planning inputs
Product portfolio planning is a key part of the S&OP process and involves an analysis of business strategy, demand and supply plans, product mix, performance, new product introduction pipeline and phase outs. It also looks at marketing activities for key customers and channel partners. The inputs into this process are critical to ensuring that your business makes sound decisions about its products. By understanding these inputs you can better plan for success in the market and ensure that your products have the best chance of success.
Product portfolio planning outputs
The outputs of the product portfolio planning process include a list of products or services with their associated performance metrics, strategies for managing current and new products as well as strategies for marketing activities. These outputs are essential to understand what is working and what needs improvement. They can also provide insight into customer preferences, industry trends and other factors that can impact product demand.
Who is involved in the decision-making process?
The decision-making process for product planning and review typically involves a variety of stakeholders. This may include the S&OP team, business unit managers, product marketing teams, sales teams, and other key personnel. Each person will provide their own expertise and insights to the process. By having a variety of perspectives, companies can make better decisions that are based on data-driven strategies.
Product Lifecycle Management
Product lifecycle management is an important aspect of product planning and review. This involves understanding the life cycle of your products from concept to launch to retirement or phase-out. It’s important to understand the different stages in order to maximize profits and minimize risks. This involves understanding customer needs, market trends, pricing strategies and potential competitors in order to create the most effective product for your customers.
Conclusion
By understanding the inputs, outputs and who is involved in the decision-making process, companies can create successful products that meet customer needs. By understanding product lifecycle management and market trends, they can also maximize profits while minimizing risks. Roundhouse by Simplement helps global organizations access and utilize their SAP data to meet KPI’s and create data visualizations that help teams make informed decisions. Simplement is passionate about making SAP data as useful as possible, so that organizations can manage their Product Portfolio with ease. This ultimately allows Simplement’s customers to be competitive in today’s fast-paced business environment.
