The Value of Real-Time in Product Management
Good product management requires knowledge of the location and status of your merchandise. Great product management adds to the essentials of location and status by tracking merchandise in real time. ChainDrive Product Management software gives you all the tools you need to control inventory levels and manage price points with maximized effectiveness because you aren’t just working with where your merchandise has been — you know exactly where it is now.
Past + Present = Effective Predictions
When you know what you need to know, you can make good decisions about your product. That level of knowledge comes from reliable historical data added to reliable real-time data. Knowing where your product has been, how much has been there, and the exact location of quantities right now means it is easier to predict what will happen next.
ChainDrive provides extensive analytical tools, reports, and performance metrics so product management teams can utilize their knowledge and make effective predictions. This results in optimal action and profitable product selection.
Real-Time Responsiveness To Changing Situations
The supply chain is always changing because the world keeps changing. A vendor might have trouble completing an order, a shipment may be diverted due to bad weather, or any number of other situations happen to affect your ability to obtain the merchandise you stock. If you have the ability to see a product’s status in real time, you have an accurate idea of what is happening.
But seeing what is happening doesn’t help unless you can also respond in real time. ChainDrive’s product management software gives you the ability to identify and respond to changing situations with user-defined attributes, centralized data management, and a real-time inventory matrix that has been a game-changer for handling products. The ChainDrive Inventory Matrix is a power module that centralizes and facilitates the complexities of purchasing, allocations, simulations, transfers, pre-distributions, and more. It’s like a secret superpower.
Real Benefits In Real-Time
Some of the benefits of good product management software really aren’t seen until it has been in place for a while. But the benefit of seeing product information in real time and the benefit of responding to product situations in real time should both be appearing in real time, too. With ChainDrive Product Management software, you can immediately see the value of real-time in handling your inventory.