The answer is in your Solution Space
A Solution Space is the sum total of every allowable product combination. For complex products, this could number into the hundreds of millions.
Understanding which of your product variants are sold the most, the least, and at what profit, is key to becoming an agile, competitive company.
With this knowledge, you can focus resources on your most profitable products, while recognizing significant cost savings from eliminating product combinations that are rarely, if ever, sold.
How does it work?
With a complete view of how many product variations exist within your company, you can start to restrict or eliminate those combinations that are either too expensive to make, or are so rarely sold that maintaining components, parts, schematics and drawings doesn’t make sense.
By placing certain parameters on your Solution Space, you will start to see which of your product variations fall inside or outside of being Buildable, Orderable or Sellable.
You will also see which of your product combinations are most popular, and which provide the most profit, allowing you to make informed decisions when streamlining offerings to optimize business operations.
Solution Space with VT™
Creating your solution space with Virtual Tabulation® provides a transparent view of your entire product portfolio, allowing you to make informed decisions about what products to keep, what products to eliminate and what products to sell more of, all based on 100% reliable data.