Be4ward

Product Lifecycle Management

The product lifecycle is the evolution of a product, from invention to eventual discontinuation from the marketplace. All products have lifecycles and various models exist to describe each stage. We define the stages as New Product Introduction – Growth – Maturity – Patent Expiry – Divestment and Discontinuation.

Each stage of the product lifecycle requires alterations to capabilities and therefore it is important that you recognise the lifecycle stage of your products and ensure your finished goods supply capabilities are aligned to the needs of the stage of the product lifecycle:

• New Product Introduction – dynamic, volatile, learning and growing. Need to be responsive and adaptable
• Growth – increasing demand for capacity, international expansion, industrialisation of processes and capabilities
• Mature – more predictable, driving operational efficiencies, increasing cost pressure
• Patent Expiry – generic attack, line extensions to provide generic defence, dramatic price pressure
• Discontinuation / Divestment – declining volumes, transfer of ownership to others, tech transfer and decommissioning of supply chains

In a company with a portfolio of products, at different lifecycle points this is a complex management challenge. Strong programme management to coordinate the impact from different products on the company’s capabilities is required.