As a category manager, one of your key responsibilities is to regularly conduct range reviews for the products within your category. Range reviews are important because they allow you to assess the performance of individual products and make informed decisions about which products to keep, discontinue, or introduce to the category.
Conducting a range review involves several steps, which are outlined below
The first step in conducting a range review is to identify all of the products within your category. This may involve reviewing your product catalogue and making a list of all the products that fall within your category. It's important to include all products, even those that may not be performing well or that are currently out of stock.
Once you have a list of all the products within your category, the next step is to gather data on the performance of each product. This may include sales data, customer feedback, and other relevant information. It's important to gather as much data as possible, as this will help you make more informed decisions about which products to keep, discontinue, or introduce to the category.
Once you have gathered data on the performance of each product, the next step is to assess that performance. This may involve analysing sales data, customer feedback, and other relevant information to determine which products are performing well and which are not. It's important to be objective and unbiased when assessing the performance of each product.
Based on your assessment of the performance of each product, the next step is to determine which products to keep, discontinue, or introduce to the category. This decision will likely be influenced by a variety of factors, including sales data, customer feedback, and the overall goals and objectives of the category.
Once you have made decisions about which products to keep, discontinue, or introduce to the category, the next step is to communicate those decisions to relevant stakeholders. This may include your team, other departments within the company, and any external partners or vendors. It's important to clearly and concisely explain your decisions and the reasoning behind them.
The final step in conducting a range review is to implement your decisions and monitor their impact. This may involve making changes to your product catalogue, updating product listings, and working with vendors and other partners to ensure that your decisions are carried out effectively. It's important to regularly monitor the impact of your decisions and adjust your strategy as needed.
Conducting a range review is an important part of being a category manager. By following the steps outlined above, you can assess the performance of the products within your category and make informed decisions about which products to keep, discontinue, or introduce to the category.
In conclusion, conducting a range review is a crucial responsibility for a category manager. It involves identifying all of the products within the category, gathering data on their performance, assessing that performance, determining which products to keep, discontinue, or introduce, communicating those decisions to relevant stakeholders, and implementing and monitoring the impact of those decisions. By conducting range reviews regularly, category managers can ensure that the products within their category are performing well and align with the overall goals and objectives of the company.
