Boxes of stationary under the stairwell with the old logo; shelves in the warehouse with outdated catalogs; pallets with posters promoting last month's event; all good material - none of it useful anymore.
Websters defines "obsolescence" as "having a loss in the utility or value of property that results over time from intrinsic limitations or external circumstances."
As circumstances and strategies change, branding and messaging evolves, marketing collateral often needs to be updated. All these improvements are important to the success of the company so having a plan can help reduce obsolescence and keep waste down to a minimum.
Advances in printing technology and availability of systems for management of assets are such game-changers for CMOs, and marketing executives. By reducing production times, providing better reporting, more efficient processes and cutting down on unnecessary inventoried items you can practically eliminate the obsolescence of printed marketing collateral. Granted, there may be times when taking an inventory position on some parts makes financial sense, but with on-demand printing and web-to-print marketing portals, you can dramatically reduce your need for stocking large quantities of any document.
Low obsolescence levels can be an indication of a well-managed marketing department. Reducing and even eliminating obsolescence becomes possible even with highly flexible organizations.
In order to reduce obsolescence in your marketing department consider the following:
1. Development - Can materials be set up to be variable templates to be edited easily by sales teams? Can approval processes be automated through system rules?
2. Production - Can materials be produced on demand? Can production workflows be more automated?
3. Distribution - Can the vendor ship orders directly to locations where the material is required? Can the shipping time reduced by eliminating unnecessary routing through the head office?
4. Information - Can burn-down and usage reports be real time? Can forecasting information be accurately gathered to help with planning?
For help with reducing obsolescence of marketing collateral through implementation of marketing portals, contact us today.
PAIN OF OBSOLESCENCE REPORTING: 5 STAGES OF GRIEF
We usually hide these materials; we want them out of the way. We need the room for the updated materials but there is another reason we want them out of site. We don't like to be reminded of them, so, "out of sight, out of mind." All good until someone asks you for the dreaded obsolescence report on your marketing collateral.
Then we start the five stages of Obsolescence Report Grief. If you have ever had to do this you know it's a real thing.
Denial - "No way I really need to do this!"
Anger - "WHAT? This Obsolescence Report HAS to be done this week?"
Bargaining - "Can't we just leave marketing collateral out of the report?"
Depression - "There goes my weekend."
Acceptance - "I'll have it to you by Monday."
Then all the details are brought to light and a dollar value is attributed to every bit of that useless inventory. It's the right thing to do but still it makes you uncomfortable. You hate waste. There has to be a better way.