Why Does Product Management Need A Matrix?
“ChainDrive’s power tool, the matrix, centralizes and facilitates the complexities of supply chain management throughout the product lifecycle, providing you with all the necessary tools you need to effectively manage your most valuable asset, your inventory.” — ChainDrive Product Management
There are many ways the term “matrix” is used, depending on the category. In software, the matrix refers to a centralized location that holds all the information necessary for any function. Rather than isolating certain types of data, it’s all in one place for access.
What Can This Matrix Do?
Since all the information is easily accessible and instantly usable, there are many ways to utilize the ChainDrive Matrix. Here are a few:
Product management is a complex process requiring accurate analysis before taking actions that impact operations. Access to all the data allows product management to happen in real-time, locating inventory and determining status no matter what is happening. The ability to simultaneously keep track of purchases, receipts, allocations, sales, transfers, etc. also enables evaluating a particular product in its entirety.
The Matrix Has To Be Your Own
Any retail product management component that doesn’t allow user-definable attributes is missing the whole point of a software solution. It isn’t effective to use someone else’s data to figure out your specific strategies, and in product management there are too many unique factors to use a one-size-fits-all approach.
One of the best features of the ChainDrive integrated retail management solution is the fact that it can be customized to fit your business. Along with that customization, the professional support services ensure that your team knows how to utilize your matrix to the max.