ARTICLE DESCRIPTION: The retail market today features highly variable product offerings together and an ever-widening range of goods, plus growing globalisation and volatility of consumer tastes. The ebb and flow of these forces often leave Retailers with the confounding presence of too many ‘wrong’ products in their stores, while the ‘right’ products are lacking.

MORE INFO: Short Product Life Cycle Planning The retail market today features highly variable product offerings together and an ever-widening range of goods, plus growing globalisation and volatility of consumer tastes. The ebb and flow of these forces often leave Retailers with the confounding presence of too many ‘wrong’ products in their stores, while the ‘right’ products are lacking. Retailers are thus obliged to mark down the ‘wrong’ items to move them out (with obvious effects on their returns) and face the risk of lost sales for the duration of their incorrect product offer. This type of situation is even more critical for products with short life cycles, where success depends on having the right products in the right place in the right quantity during the brief time available. This is also the case for the launch of new products that cannot make reference to the historical signposts.

PUBLISHER: Institute of Operations Management

Page number: 24 Word count: 1500

Vol 30 - No 01 - February 2004

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