The Three Time Zones Of Product Management
When you reduce retail down to one thing, that thing is your product. Every other aspect of the retail industry is useless without that, right? So it makes sense that product management would be something that every retailer pays close attention to. The thing is, you have a lot of other things to pay attention to as well, so product management can end up being something sort of scattered and inefficient.
This does not have to be the case. Product management can be looked at as having three time zones – past, present, and future. Here’s how those categories can help you organize your product:
- Past — What’s involved in getting your product into the store? Manufacturing, design, shipping, and more are in the storyline of everything you sell. Is there a problem in a previous version that can be addressed now?
- Present — Do you know how much you have in stock, when more is coming, and the status of all that is under your responsibility? Can you easily send out mass recalls or transfer product as needed?
- Future — Which decisions must be made now to keep the ball rolling? What are the possible avenues opening up for your enterprise? How will you act on the information you have collected and assessed?
ChainDrive’s Product Management component allows you to create user-defined attributes and assign them directly to your products, so you can filter and analyze the aspects that are important to you. You don’t have to redesign your product management strategies around the priorities of a software designer who doesn’t know your priorities. This component has extensive analytical tools, performance metrics, and more that you individualize for the best tracking and analysis. That knowledge of the past and the present help you determine what will be the best options to act upon for a profitable future.