Managing product end-of-life can be a challenging task for any business, but with the right tools and systems, it can be made easier. Epicor P21, a leading enterprise resource planning (ERP) solution, offers a comprehensive and efficient way to handle product end-of-life.

What exactly does product end-of-life mean? It is the process of retiring a particular product or product line, usually due to the introduction of a newer version or declining demand. This usually involves managing inventory levels, communicating with suppliers and customers, and making decisions about disposing of the remaining inventory. Epicor P21 comes with a number of features that make this process easier.

Let’s take a closer look at how this platform handles product end-of-life.

Inventory Management: One of the most important components of product end-of-life is inventory management. Epicor P21 allows businesses to easily track and monitor inventory levels of any product. The platform provides real-time insights and automated replenishment processes to avoid overstocking of obsolete products.

Communication with Suppliers and Customers: Communication with suppliers and customers is crucial during the discontinuation of a product. Epicor P21 has a built-in communication tool that allows companies to send notifications of the discontinuation process to their suppliers and customers. This feature helps maintain transparency and keeps all parties updated on any changes.

Product Lifecycle Management: Epicor P21 also offers a robust product lifecycle management system. This allows companies to track the performance of each product and determine which products should be discontinued. By analyzing data on sales, revenue, and profitability, companies can make informed decisions about which products to discontinue.

Waste Management: Once a product has been discontinued, the next step is to dispose of the remaining inventory. Epicor P21 offers various options for disposal, such as selling it to a curator or demolishing the product. In addition, the platform helps companies manage the documentation and accounting processes involved.

In summary, Epicor P21 offers a comprehensive solution for managing product discontinuance. The features enable companies to effectively manage inventory, communicate with suppliers and customers, and make informed decisions based on product performance. By using this platform, companies can minimize the impact of product discontinuations on their operations and ensure a smooth transition to newer products.