Just when you thought managing inventory was challenging enough, something else gets added to the equation to make it even more complex: Product lifecycles. That’s right. It’s not enough to just have the right number of products in stock; you also need to know how long you should keep selling them.
A product lifecycle is how long a certain product can be sold before it’s replaced by a new model or another product that meets the same need for less. (more…)
Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks, and small business. Fishbowl is the #1-requested manufacturing and warehouse management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies.