PREDICTIVE PRODUCT LIFECYCLE MANAGEMENT

Enhanced Predictive Product Insight in Supply Chain

Utilizing a balanced blend of state-of-the-art AI technology and analytical consultancy support, Optilon’s Predictive Product Lifecycle Management solution turns large volumes of historical product, demand and behavioural data into a set actionable predictive outputs, each designed to improve time-to-action and aid the right decision at the right time at key stages within each specific product’s life cycle.

Predictive Product Lifecycle Management is fully agnostic in terms of the types of products it analyses, handling products in all types of categories and existing lifecycle stages and is also designed to seamlessly integrate in to existing supply chain and product development applications.

Solution Components

Optilon’s Predictive Product Lifecycle Management solution consists of three main solution components and related predictive signalling outputs, each independently generated and used yet holistically harmonized from the perspective of a product’s entire life cycle:
New Product Introductions

Products entering the initial Introduction stage have traditionally been challenging from a demand forecast perspective due to the lack of relevant historic and indicative data to predict future product performance.

Utilizing traditionally unused yet often existing product attribute, sales area, product family, cost and unit price data, the Predictive Product Lifecycle Management algorithm is trained and tested to find trends and patterns within this blended dataset to accurately predict the average sales volume for the first month following a specific product introduction in a specific sales area.

Demand Growth Prediction

By utilizing historical demand data in combination with trend data and external influencing factors (such as weather and economic predictors), our advanced causative modelling provides future market demand for the short, medium- and long-term horizons.

Designed to explore, analyze and evaluate an infinite amount of demand scenarios and outcomes in a rapid fashion through visual analysis, our demand prediction component even has the ability to automatically evaluate the accuracy of various predictive models against one another, safeguarding and optimizing accurate predictions.

Early Product Decline Identification

Traditional methods of identifying product sales decline often only lends itself to reactive rather than proactive management to mitigate the negative impacts of decreased product sales.

By enabling earlier identification of products trending towards decline through the identification of predictive features within product, transactional and customer data, the Predictive Product Lifecycle Management algorithm provides decision-makers with insights in order to take necessary production and logistics actions sooner, ultimately reducing organizational risk.

A VALUE-DRIVEN SOLUTION

Predictive Product Lifecycle Management carries a number of value-generating advantages over traditional and manual product lifecycle techniques. Below we have high-lighted key solution advantages:

LEVERAGE NEW PRODUCT DEMAND

Increased ability to determine post-launch product demand, increasing launch ROI.

PROACTIVE PRODUCT MANAGEMENT

Improved time-to-action at each stage of the product lifecycle, aiding decision making.

ORAGNISATIONAL EFFICENCY

Reduction in planning resource efforts, enabling additional product launch activity.

SMOOTHER PRODUCTION PLANNING

Reduction in exposure to over- and underproduction to due increase demand forecasting accuracy.

LOWER INVENTORY HOLDING

Decrease inventory holding costs and limit inaccurate traditional product demand forecasting.

INCREASE CUSTOMER SATISFACTION

Reduction in customer dissatisfaction due to better demand forecasting and in turn stable service levels.

Want to know more about Predictive Product Lifecycle Management?

Please contact our Head of Advanced Analytics Johan Öhlin on +46 10 480 87 50 or johan.ohlin@optilon.se.