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Short life cycle products, constantly changing feature mix, product complexity, furious competition, and volatile supplier costs are just a few challenges that companies in the high tech industry face.
Products in the high tech industry are“Problems arise when the product options are disconnected from the demand signal. either configurable or have a fixed configuration. Both of which add extra layers of complexity to the supply chain.
Examples of configurable products are computers and ATM machines. Customers can select the specific configuration for their needs from a set of standard product options. Problems arise when the product options are disconnected from the demand signal.
“If the choice selection is poor, the inventory of unsold units builds up, costing the company millions of dollars in inventory and lost sales.Examples of fixed configuration products are cell phones and tablet computers. Customers do not get to explicitly select the feature choices in these products. However, manufacturers offer different configurations with the hope that they sell well. If the choice selection is poor, the inventory of unsold units builds up, costing the company millions of dollars in inventory and lost sales. The large selection of software and services also adds an additional layer of complexity to the product offering.
One of the few ways to be profitable in this environment is to have the ability to automate the detection of customer customer buying patterns and connect it with various business functions, allowing for a fast and agile response to changes.
Emcien’s pattern-based analytics applications enable high tech companies to keep a finger on the pulse of customer demand and automatically surface what product mix and service options are selling. Using this insight, the companies can respond quickly to shifts in the market and competitors, increasing profitability and market share.