HM Product Solutions is a leading retail product life cycle strategist and management company. Historically, the retail product market is very demanding yet is extremely cost conscious. The retail industry is continuously looking to maximize their profit.
There are 5 main phases of retail product goods and services:
- Market development
- Market introduction
- Market growth
- Market maturity
- Market decline
Each phase of a retail product’s history can show the life story of the merchandise. These individual steps can be analyzed by a company such as HM Product Solutions for optimal data compilation, tracking, distribution and inventory. The analysis of all aspects lets HM Product Solutions know where the holes are and what needs to be done to fill that hole.
An international retail merchant contacted HM Product Solutions with their issues. Their current product’s lifecycle tasks were time consuming and were driving costs up while profits went down. The inventory that was necessary to keep with up with the demands was constantly running low and/or out.
Retail Product Life Cycle Solutions
HM Product Solutions scrutinized this merchant’s current product lifecycle processes with their proprietary lifecycle management software. This software was able to identify intensive labor, and the costs associated, due to time consuming tasks involved in the merchant’s procedures. HM Product Solutions was also able to procure the products themselves and keep a large inventory at their Midwest location, giving this client the freedom to focus on their own core capabilities.
With HM Product Solutions’ lifecycle management solutions, this client was happy to report a 33% increase in profit. Another happy customer!
The lifecycle of products and parts can be fraught with uncertainties and risks. Let HM Product Solutions ease the way with their vast retail product life cycle strategies and solutions. Contact HM Product Solutions today for your custom analysis and quote.
HM Product Solutions also offers the following services: