Optimize Product Life Cycles With The ChainDrive Matrix
The Merriam-Webster dictionary defines a matrix as something within or from which something else originates, develops, or takes form. This is exactly how ChainDrive’s Product Management software utilizes the power module we call “the Matrix.”
The ChainDrive Inventory Matrix
Designed to operate within the component, the Matrix centralizes and facilitates the management of over 30 product data attributes. Whether a complicated process involving multiple products is necessary or a single detailed look at a single item is called for, the Matrix is where it starts and is formed. Developing a plan for action requires simulation of possible scenarios and accurate data makes the planning profitable.
Once the possibilities are examined, the probable impact of decisions can be assessed. The complexities of product management require careful formulation of strategy, and the Matrix enables the process. Every stage of product life cycle can be optimized because the decisions are made with optimal input.
Acting on those decisions is part of the Matrix, too. Purchasing, allocations, pre-distributions, transfers and all the dynamics in tracking inventory location and status are seamless. The powerful module is capable of simultaneously monitoring activity from one end of the business to the other, across every channel. Every part of the product life cycle is optimized.
The Functionality Product Managers Requested
ChainDrive has been designed with the input of experienced retailers and over the years, we have added to its functionality. The Matrix is where many of the functions that Product Managers have requested are generated:
- The ability to transfer inter-store with drag and drop, many to one, consolidation, and full recall functionality
- The ability to assign attributes specifically for precise analysis and product grouping
- The ability to see the status of inventory in real time regardless of location
- The ability to use multiple dimensions in dynamic style creation
- The ability to completely integrate inter-store or inter-company inventory management to accounting
- The ability to effectively and efficiently manage cost and price
- The ability to manage products in multiple level hierarchy
That list is a snapshot of all the Matrix is capable of when it comes to Product Management. It truly is the place where the process of optimizing every product’s life cycle can originate, develop, and take form. This powerful tool is capable of changing the way you approach the complexities of managing your most valuable asset, your inventory.